Question: 18. Using the code letters below, indicate how each of the items listed would be handled in preparing a bank reconciliation. Enter the appropriate code

18. Using the code letters below, indicate how each of the items listed would be handled in preparing a bank reconciliation. Enter the appropriate code letter in the space to the left of each item. Code A Add to cash balance per books B Deduct from cash balance per books C Add to cash balance per bank D Deduct from cash balance per bank E Does not affect the bank reconciliation Items: 1. Outstanding checks. 2. Bank service charge 3. Check for $420 correctly written and paid by the bank but incorrectly entered in the cash payments journal for $240. 4. Deposit in transit. 5. Bank returns deposited check marked NSF. 6. Bank collects notes receivable and interest for depositor. 7. Bank debit memorandum for check printing fees. 19. Northeast Airlines purchased a 747 aircraft on January 1, 2011, at a cost of $500,000. The estimated useful life of the aircraft is 5 years, with an estimated salvage value of $50,000 Instructions (a) Create a complete depreciation schedule for the aircraft using the Straight-line method of depreciation for the entire life of the aircraft. (b) Jounalize the adjusting entry to record the depreciation for year 1

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