Jaxon Company gathered the following information from its accounting records and the November bank statement (which...
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Jaxon Company gathered the following information from its accounting records and the November bank statement (which reflected a Cash Bank Balance of $5,995) to prepare the November bank reconciliation: Cash Balance per Books Deposits in Transit Interest Received from Bank Bank Service Charge Outsanding Checks NSF Check from Customer $3,500 $150 $850 $30 $2,000 $175 What adjusting entry would Jaxon record for the NSF check bounced by the customer? Multiple Choice $175 $175 Cash Accounts Recelivable $175 $175 Accounts Recelvable Cash Accounts Payable $175 $175 Cash No adjusting entry is required for this reconciliation item. Jaxon Company gathered the following information from its accounting records and the November bank statement (which reflected a Cash Bank Balance of $5,995) to prepare the November bank reconciliation: Cash Balance per Books Deposits in Transit Interest Received from Bank Bank Service Charge Outsanding Checks NSF Check from Customer $3,500 $150 $850 $30 $2,000 $175 What adjusting entry would Jaxon record for the NSF check bounced by the customer? Multiple Choice $175 $175 Cash Accounts Recelivable $175 $175 Accounts Recelvable Cash Accounts Payable $175 $175 Cash No adjusting entry is required for this reconciliation item.
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Answer Correct Option d No adjusting entry is required for this reconciliation item ... View the full answer
Related Book For
Cornerstones of Cost Management
ISBN: 978-1285751788
3rd edition
Authors: Don R. Hansen, Maryanne M. Mowen
Posted Date:
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