After returning from a three-day business trip, the accountant for Hunter Sales, Johanna Estrada, checked bank activity
Question:
After matching these transactions to the company's Cash account in the general ledger, Johanna noted the following unrecorded transactions:
1. The ATM withdrawal on 9/22/2013 was for personal use by the owner, Ronnie Hunter.
2. The ACH Credit on 9/22/2013 was an electronic funds payment received on account from Edwards UK, a credit customer located in Great Britain.
3. The bill payment made 9/23/2013 to Orange Trash Services (utilities).
4. The loan payment on 9/24/2013 was a automatic debit by Central Motors for the company's monthly payment on a loan for its automobiles. The loan does not bear interest. Prepare the journal entries in a general journal to record the four transactions above. Use 21 as the page number.
Step by Step Answer:
College Accounting A Contemporary Approach
ISBN: 978-0073396958
2nd edition
Authors: David Haddock, John Price, Michael Farina