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The Bank Statement for Gatlin Co $742\$ 742 Had Been Erroneously Recorded in the Cash Receipts Journal As $7,735

question 199

Essay

The bank statement for Gatlin Co. indicates a balance of $7,735 on June 30. After the journal entries for June had been posted, the cash account had a balance of $4,098.
​ (a) Cash sales of $742\$ 742 had been erroneously recorded in the cash receipts journal as $724\$ 724 .
(b) Deposits in transit not recorded by bank, $425\$ 425 .
(c) Bank debit memo for service charges, $35\$ 35 .
(d) Bank credit memo for note collected by bank, $2,475\$ 2,475 including $75\$ 75 interest.
(e) Bank debit memo for $256NSF\$ 256 \mathrm { NSF } (not sufficient funds) check from Janice Smith, a customer.
(f) Checks outstanding, $1,860\$ 1,860 . ​
Record the appropriate journal entries that would be necessary for Gatlin Co.


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