The Following Information Is Needed to Reconcile the Cash Balance

question 150

Multiple Choice

The following information is needed to reconcile the cash balance for Woods Paper Products. • A deposit of $5,794.62 is in transit.
• Outstanding checks total $1,533.25.
• The book balance is $5,695.62.
• The bookkeeper recorded a $1,524.00 check as $15,240 in payment of the current month's rent.
• The bank balance at February 28, 2008 was $16,500.25.
• A deposit of $300 was credited by the bank for $3,000.
• A customer's check for $1,280 was returned for nonsufficient funds.
• The bank service charge is $70.
Which of the following journal entries is needed to adjust for the NSF check?

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Definitions:

Sender

The individual or entity initiating a message or communication towards one or more recipients.

Receiver

The party that gets or accepts something being sent or communicated.

Conceptual Level

Pertains to the realm of ideas and theories, emphasizing abstract thinking, general principles, and the formulation of concepts.

Semantic Level

Pertains to the meaning or interpretation of words and language in context.