The following information is available for the Topper Company for the month of J
ID: 2565008 • Letter: T
Question
The following information is available for the Topper Company for the month of July.
A. On July 31, after all transactions have been recorded, the balance in the company's Cash account has a balance of $15,244.
B. The company's bank statement shows a balance on July of $16,450.
C. Outstanding checks at July total $2,063.
D. A credit memo included with the bank statement indicates that the bank collected $570 on a note receivable for Topper.
The $570 includes $550 principle and $20 interest.
E. A debit memo included with the bank statement shows a $107 NSF check from a customer, P. Flank.
F. A deposit placed in the bank's night depository on July 31 totaling $1,275 did not appear on the bank statement.
Date Account Titles and Explanation Debit CreditExplanation / Answer
Jul-31 Cash 570 Notes receivable 550 Interest revenue 20 Jul-31 Accounts receivable-P. Flank 107 Cash 107 Jul-31 Bank service charges/Miscellaneous expense 45 Cash 45
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