Following is a bank reconciliation for Zocar Enterprises for June 30, 2018.
Cash Accoun...
Business, 26.02.2020 04:17 gracerhodes4305
Following is a bank reconciliation for Zocar Enterprises for June 30, 2018.
Cash Account Bank Statement Balance as of 6/30/2018 $1,918 $3,000
Deposit in transit 600
Outstanding checks (1,507)
Note collected by bank 2,000
Bank service charge (25)
NSF check (1,800)
Adjusted cash balance as of 6/30/2018 $2,093 $2,093
As part of the normal process for handling an NSF check, the accounting clerk has notified the customer that their account did not contain sufficient funds to pay the balance owed to the company. The customer was told that they will need to provide an alternative form of payment to cover the outstanding balance.
Prepare the adjusting entry that the clerk would have made to record the NSF check. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Answers: 2
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