question archive 1) Receipts from cash sales of $3,200 were recorded incorrectly in the cash receipts journal as $2,300

1) Receipts from cash sales of $3,200 were recorded incorrectly in the cash receipts journal as $2,300

Subject:ManagementPrice:3.87 Bought7

1) Receipts from cash sales of $3,200 were recorded incorrectly in the cash receipts journal as $2,300. This item would be included on the bank reconciliation as a(n)
A.    deduction from the balance per company's records
B.    addition to the balance per bank statement
C.    deduction from the balance per bank statement
D.    addition to the balance per company's records
2) Receipts from cash sales of $3,200 were recorded incorrectly in the cash receipts journal as $2,300. What entry is required in the company's accounts?
A.    debit Sales; credit Cash
B.    debit Cash; credit Accounts Receivable
C.    debit Cash; credit Sales
D.    debit Accounts Receivable; credit Cash
3) Which of the following items that appeared on the bank reconciliation did not require an adjusting entry?
A.    bank service charges
B.    deposits in transit
C.    NSF checks
D.    A check for $630, recorded in the check register for $360.
4) What entry is required in the company's accounts to record outstanding checks?
A.    debit Accounts Receivable; credit Cash
B.    debit Cash; credit Accounts Receivable
C.    debit Cash; credit Accounts Payable
D.    none
 

Option 1

Low Cost Option
Download this past answer in few clicks

3.87 USD

PURCHASE SOLUTION

Option 2

Custom new solution created by our subject matter experts

GET A QUOTE

rated 5 stars

Purchased 7 times

Completion Status 100%