From bank reconciliation: the Check No. 210 for $594 was correctly issued and paid by the...
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From bank reconciliation: the Check No. 210 for $594 was correctly issued and paid by the bank but incorrectly entered in the cash payments journal as payment on account for $549. Record the correcting entry: Newman Stores accepts its own credit cards. Jan. 15 Made Newman credit card sales totaling $15,000. Feb. 15 Added an interest of 1% to Newman credit card balance. Record entry of Feb.15 From bank reconciliation: the Check No. 210 for $594 was correctly issued and paid by the bank but incorrectly entered in the cash payments journal as payment on account for $549. Record the correcting entry: Newman Stores accepts its own credit cards. Jan. 15 Made Newman credit card sales totaling $15,000. Feb. 15 Added an interest of 1% to Newman credit card balance. Record entry of Feb.15
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Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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