Pyramid Corporation is assessed a $25 fee as the result of a $62 NSF check. Neither the

Question:

Pyramid is assessed a $25 fee as the result of a $62 NSF check. Neither the fee nor the NSF check has been accounted for on Pyramid’s books.

Required:
Record the appropriate journal entry to update Pyramid’s books.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...