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Roucher Corporation's Bank Statement Included Two Types of Electronic Funds

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Essay

Roucher Corporation's bank statement included two types of electronic funds transfers (EFT). One type of EFT totaled $10,000 and was from customers paying their accounts online. Another type of EFT totaled $16,500 and was from Roucher paying its accounts payable online. Required: (a) How will each of these items affect Roucher's bank reconciliation? (b) Prepare the required journal entries, if any, that Roucher will make to record the above information on its books.

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Definitions:

Hernán Cortés

A Spanish Conquistador known for his expedition that led to the fall of the Aztec Empire and the establishment of Mexico City on its ruins.

Bartolome De Las Casas

A 16th-century Spanish historian and Dominican friar who became the first known advocate for the rights of indigenous people in the Americas, and opposed the abuses of the Spanish encomienda system.

Native Americans

The indigenous peoples of the United States, including a vast array of tribes, cultures, and languages that inhabited the land prior to European colonization.

Spanish Oppression

Historical period of dominance and harsh control by Spain over its colonies and various indigenous peoples.

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