For Each of the Following, Explain Whether the Issue Would

question 21

Essay

For each of the following, explain whether the issue would require you to prepare a journal entry for your company, assuming any original entry is correct. If an entry is required, please include it as part of your answer.
(1) The bank recorded your deposit as $75 rather than the actual amount of $175.
(2) Two outstanding checks amounted to $280.
(3) Company check number 538 for postage was recorded incorrectly by the company bookkeeper as $79 instead of $97.
(4) The bank paid a check for $500 after the company had issued a stop payment and voided the check.
(5) An EFT deposit was made by one of the company's customers, Atlas Design, for merchandise received. The sale had previously been recorded when shipped and was equal to the payment amount of $85.

---

Definitions:

Navigation Pane

A user interface element that allows users to easily move to different areas or features within a software application or website.

Form Label

Text used in forms to identify and provide information about the input fields to the user.

Web Property

A digital asset owned by an individual or organization, typically referring to a website or web application on the internet.

Align Right

A text formatting option that aligns text to the right margin of a document or container, often used to create a formal or structured layout.