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.

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Definitions:

Microblogging

A form of blogging that allows users to write brief text updates and publish them, often used on platforms like Twitter.

Business Communication

The sharing of information between people within and outside an organization, conducted for the commercial benefit of the organization.

Teasers

Short promotional pieces intended to generate interest or curiosity in a product, event, or content without revealing all the details.

Innuendos

Indirect or subtle references, often suggestive or disparaging.