Prepare Any Journal Entries Based on the Following Data Regarding

question 97

Essay

Prepare any journal entries based on the following data regarding the bank reconciliation prepared by Corruption Company on July 31, 2014.
a. A customer's cheque for $260 was returned with the bank statement and stamped NSF.
b. Outstanding cheques amount to $650.
c. Service charges for July per bank statement are $25.
d. Cheque #925 for $3,250 for office equipment was erroneously recorded by the bookkeeper as $2,350.
e. The bank erroneously credited Corruption Company's account for a $575 deposit made by Bribe and Bilk Inc.
f. A deposit ticket correctly prepared for $695 appeared on the bank statement as a deposit for $965.
g. Cheque #930 for $900 for rent expense was erroneously recorded by the bookkeeper as $90.

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Definitions:

Conflicts

Situations where perceived or actual incompatible interests, beliefs, or actions lead to opposition or discord between individuals or groups.

Morals

Fundamental beliefs about what is right and wrong, which serve as guiding principles for behavior.

Values

Core beliefs or principles that guide and influence behavior and attitudes.

Copyright Infringement

The use or reproduction of copyrighted material without permission from the copyright holder, often violating exclusive rights.