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

question 39

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:

Recruitment

The process of finding and hiring the best-qualified candidate for a job opening, in a timely and cost-effective manner.

Advocacy

The act of publicly recommending or supporting a particular cause or policy.

Media Richness

The degree to which a communication channel conveys information effectively, taking into account the capacity for immediate feedback, the use of multiple cues, and the personal nature of the medium.

Animation

The process of creating the illusion of motion by displaying a series of static images in rapid succession.