Homework Answers
| Journal Entry | |||
| Debit | Credit | ||
| 1 | Cash | $47 | |
| Interest Earned | $47 | ||
| (Recording of Earned Revenue) | |||
| 2 | Bank Service Charge Expense | $18 | |
| Cash | $18 | ||
| (Service charges deducted by Bank Now Recorded) | |||
| 3 | Office Supplies | $82 | |
| Cash | $82 | ||
| (Recording of Office Supplies) | |||
| 4 | Deposit in transit | $1,785 | |
| Cash | $1,785 | ||
| (recording of Deposits in Transit) | |||
| 5 | Cash | $2,134 | |
| Accounts payable | $2,134 | ||
| (Uncleared Checks) | |||
| Workings: | ||
| Balance as per Book | $18,658 | |
| Add: | Interest Earned | $47 |
| Accounts payable | $2,134 | |
| Less: | Bank Service Charge Expense | -$18 |
| Office Supplies | -$82 | |
| Deposit in transit | -$1,785 | |
| Balance as per Bank | $18,954 | |
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Prepare the general journal entries to bring the company’s
book balance of cash onto conformity with the reconciles balance as
of June 30
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