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:

Tinker Creek

A stream in Virginia, notably written about by Annie Dillard in her work "Pilgrim at Tinker Creek," exploring nature and life.

Shade Trees

Large trees planted specifically to provide shade and reduce heat in surrounding areas, often enhancing comfort and energy efficiency.

Sand Dunes

Natural accumulations of sand typically found in deserts and on beaches, shaped by the wind or water flow.

Vegetable Beds

Designated areas in a garden where vegetables are planted and grown.