Harnish Company Needs to Make Adjusting Entries for Each of the Following

question 170

Essay

Harnish Company needs to make adjusting entries for each of the following reconciling items. Identify the account to be debited and the account to be credited in each case.
1. A check for $127 written to the company by J. Chandler was returned NSF.
2. The monthly service charge by the bank was $20.
3. The bank collected a $1,000 note plus interest of $100 on the company's behalf. The company had not accrued the interest.

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Definitions:

Given Industry

Refers to a specific sector or market within the economy that is identified by its particular products, services, or business activities.

Zenefits

A digital human resources platform designed to help small and medium-sized businesses manage their HR needs.

Secure Data

Data that is protected through technological measures to ensure its confidentiality, integrity, and availability from unauthorized access or alterations.

E-Business

Conducting business processes on the internet, including selling products, providing services, and business-to-business transactions.