The Following Information Is Available for the Tierney Company for the Month

question 110

Essay

The following information is available for the Tierney Company for the month of November.
-On November 30,after all transactions have been recorded,the balance in the company's Cash account has a balance of $27,202.
-The company's bank statement shows a balance on November 30 of $29,279.
-Outstanding checks at November 30 include check #3030 in the amount of $1,525 and check #3556 in the amount of $1,459.
-Included with the bank statement was a credit memo in the amount of $770 for an EFT in payment of a customer's account.
-The bank deducted $67 for an NSF check from a customer deposited on November 22.
-A deposit placed in the bank's night depository on November 30 totaled $1,675 and did not appear on the bank statement.
-Examination of the checks on the bank statement with the entries in the accounting records reveals that check #3445 for the payment of an account payable was correctly written for $2,450,but was recorded in the accounting records as $2,540.
-Included with the bank statement was a debit memorandum in the amount of $25 for bank service charges.
Required:
Prepare the journal entries for the items that would appear on the company's bank reconciliation as of November 30.(Do not prepare the bank reconciliation.)

---

Definitions:

Lease

A contractual agreement by which one party conveys property, services, or land to another party for a specified period of time, in return for periodic payments.

UCC

Uniform Commercial Code; a comprehensive set of laws governing all commercial transactions in the United States.

Copyright

A legal right granted by the state to the creator of an original work, allowing exclusive publication, distribution, and use for a specified period.

Lessor

The party who owns a property or asset and leases it out to another party, known as the lessee, under a lease agreement.