The Bank Statement for Jeffrey Co

question 52

Essay

The bank statement for Jeffrey Co. indicates a balance of $8,785 on October 31. After the journals for October had been posted, the cash account had a balance of $8,998.?
(a)Cash sales of $945 had been erroneously recorded in the cash receipts journal as $495.
(b)Deposits in transit not recorded by bank, $778.
(c)Bank debit memo for service charges, $40.
(d)Bank credit memo for note collected by bank, $23,985 plus $885 interest.
(e)Bank debit memo for $756 NSF
(not sufficient funds) check from Calin Sams, a customer.
(f)Checks outstanding, $1,860.

Record the appropriate journal entries that would be necessary for Jeffrey Co.

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Definitions:

Theory of Mind

The ability to attribute mental states—beliefs, intents, desires, pretending, knowledge—to oneself and others and to understand that others have beliefs, desires, and intentions that are different from one's own.

Object Permanence

The understanding that objects continue to exist even when they cannot be observed (seen, heard, touched, smelled, or sensed in any way).

False Belief

A misunderstanding or incorrect interpretation about the state of the world, often studied in the context of cognitive and developmental psychology.

Theory of Mind

The ability to attribute mental states—beliefs, intents, desires, emotions—to oneself and others.