Question

Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,003 and No. 5893 for $489. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation From the September 30 Bank Statement PREVIOUS BALANCE 19,500 TOTAL CHECKS AND DEBITS 9,825 TOTAL DEPOSITS AND CREDITS 11,587 CURRENT BALANCE 21, 262 CHECKS AND DEBITS Date No. Amount 09/03 5888 1,003 09/04 5902 720 09/07 5901 1,856 09/17 659 NSE 09/20 5905 957 09/22 5903 387 09/22 5904 2,126 09/28 5907 228 09/29 5909 1,889 DEPOSITS AND CREDITS Date Amount 09/05 1,148 09/12 2,226 09/21 4,307 09/25 2, 303 09/30 13 IN 09/30 1,590 CM From Chavez Company's Accounting Records

could I get help with the journal entry part of this problem, thanks

Answer 1

Answer:

Journal Entries

Date	General Journal	Debit	Credit
Sept 30	No Entry
Sept 30	Cash	13
	Interest earned		13
	(To record interest earned)
Sept 30	Cash	1,590
	Note receivable		1,590
	(To record note proceeds)
Sept 30	No Entry
Sept 30	Accounts receivable - S.Nilson	659
	Cash		659
	(To record NFC check)
Sept 30	Computer equipment	37
	Cash		37
	(To record correction of error)