Homework: Chapter Score: 2.35 of 5 pts (%) E722 (book/static) Save 4015 (5 compl

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Homework: Chapter Score: 2.35 of 5 pts (%) E722 (book/static) Save 4015 (5 complete) HW Score: 81.76%, 20.44 of 25 pts Question Help Jim Root Corporation operates four bowling alleys. The business just received the October 31, 2018, bank statement from City National Bank, and the statement shows an ending balance of S910. Listed on the statement are an EFT rent collection of $440, a service charge of $7, NSF checks totaling $50, and a $23 charge for printed checks. In reviewing the cash records, the business identified outstanding checks totaling $440 and a deposit in transit of $1,800. During October, the business recorded a $260 check by debiting Salaries Expense and crediting Cash for $26. The business's Cash account shows an October 31 balance of $2,144 Read the requirements NSF check Cost of printed checks Service charge 50 23 $ 2,270 Adjusted book balance, October 31, 2018 Requirement 2. Journalize any transactions required from the bank reconciliation. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin with the EFT collection Date Accounts and Explanation Debit Credit Oct. 31 Choose from any list or enter any number in the input fields and then click Check Answer parts remaining Clear All Check Answer

Explanation / Answer

Date General Journal Debit Credit 31-Oct Cash 440 Rent Revenue 440 To record rent collection by EFT Salary expense 234 Cash (260-26) 234 To record error on salary check. Accouts Receivable 50 Cash 50 NSF check returned by bank Bank Expense 23 Cash 23 To record printed check charge incurred. Bank Expense 7 Cash 7 To record bank service charges incurred.

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