When preparing the monthly bank reconciliation, Mayhew Company's accountant found the following adjustments to make to...

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When preparing the monthly bank reconciliation, Mayhew Company's accountant found the following adjustments to make to either the unadjusted book balance or unadjusted bank balance: Deposits in transit NSF check Bank service charge Outstanding checks Credit memo for interest $1,400 220 60 1,300 60 Statement of Net Income Cash Flows Indicate how each of the required adjusting entries impacts the company's financial statements. Note: Leave cells blank if no input is needed. Enter any decreases to account balances and cash outflows with a minus sign. Required: Horizontal Statements Model Income Statement Liabilities + Stockholders' Equity Revenue Balance Sheet Item Assets Accounts Cash Receivables = Deposits in transit NSF check Bank service charge Outstanding checks Credit memo for interest = |||||||||||||| || || || = +++++ Expenses | | | II = When preparing the monthly bank reconciliation, Mayhew Company's accountant found the following adjustments to make to either the unadjusted book balance or unadjusted bank balance: Deposits in transit NSF check Bank service charge Outstanding checks Credit memo for interest $1,400 220 60 1,300 60 Statement of Net Income Cash Flows Indicate how each of the required adjusting entries impacts the company's financial statements. Note: Leave cells blank if no input is needed. Enter any decreases to account balances and cash outflows with a minus sign. Required: Horizontal Statements Model Income Statement Liabilities + Stockholders' Equity Revenue Balance Sheet Item Assets Accounts Cash Receivables = Deposits in transit NSF check Bank service charge Outstanding checks Credit memo for interest = |||||||||||||| || || || = +++++ Expenses | | | II =

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