Accompanying a bank statement for Borden Company is a credit memo for $22,330 representing the principal ($22,000) and interest ($330) on a note that had been collected by the bank. The company had been notified by the bank at the time of the collection but had made no entries.

Journalize the entry that should be made by the company to bring the accounting records up to date. If an amount box does not require an entry, leave it blank.

	Cash
	Notes Receivable
	Interest Revenue

Days' cash on hand

Financial statement data for years ending December 31 for Newton Company follow:

	20Y9	20Y8
Cash (end of year)	$25,236	$24,594
Short-term investments (end of year)	8,300	9,440
Operating expenses	59,795	63,595
Depreciation expense	13,075	11,400

Determine the days’ cash on hand for 20Y8 and 20Y9. Assume 365days in a year.

Days’ Cash on Hand
20Y8:		days
20Y9:		days

Answer rating: 100% (QA)

Solution Panticulans De bit Gredit Cash 22330 To Note ... View the full answer