lOnine teacting and learning resounce fram Cengage Learning takekinp The followi

Question

lOnine teacting and learning resounce fram Cengage Learning takekinp The following data were accumulated for une in reconciling the bank sccoutt of Creative Design Co. for August 20Y6: 1. Cash balance according to the company's records at August 31,$24 403 2. Cash balance accoeding to the bank satemens at August 31,531504. 3. Chocks outstanding.$13.345 4. Deposit in tramsit, not recorded by bank, 56,727 5. A check for $55 in payment of an account was erroneously necceded in the check register as 3550. 6. Bank debit memo for service charges, $12. Journalice the entry or entries that should be made by the company. Refer to the Chart of Accounts for eact wondieg ofaccownt titles CHART OF ACCOUNTS Creative Design Co General Ledger REVENUE ASSETS 410 Sales 110 Cash Previous Check My Work 1 more Check My Wark uses remaining All work saved Save and Exlit Submit Assignment for Grading

Explanation / Answer

Journal Accounting Equation Date Description Post Ref. Debit Credit Assets Liabilities Equity August 31,20Y6 Cash 495 495 Accounts Payable 495 495 To record rectification erronneously recorded in the check register August 31,20Y6 Miscellaneous Expense 12 -12 Cash 12 -12

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