The Bank Statement for Gatlin Co

question 108

Essay

The bank statement for Gatlin Co. indicates a balance of $7,735 on June 30. After the journals for June had been posted, the cash account had a balance of $4,098.?
(a)Cash sales of $742 had been erroneously recorded in the cash receipts journal as $724.
(b)Deposits in transit not recorded by bank, $425.
(c)Bank debit memo for service charges, $35.
(d)Bank credit memo for note collected by bank, $2,475 including $75 interest.
(e)Bank debit memo for $256 NSF
(not sufficient funds) check from Janice Smith, a customer.
(f)Checks outstanding, $1,860.?Record the appropriate journal entries that would be necessary for Gatlin Co.

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Definitions:

Unemployed

Individuals who are capable of working and are seeking work but are unable to find any, often measured by the unemployment rate.

Laid Off

The temporary or permanent termination of employment, typically due to economic conditions or company restructuring, not related to the worker's performance.

Modeling Job

Employment in the field of fashion or advertisement where individuals showcase clothing, accessories, or other products.

Consumer Price Index

An indicator that measures the average change over time in the prices paid by consumers for a basket of goods and services.