Question: A customer's check for $ 1 , 2 7 0 was returned for nonsufficient funds. Which of the following journal entries is needed to adjust

A customer's check for $1,270 was returned for nonsufficient funds. Which of the following journal entries is needed to adjust for the NSF check?
A. Accounts Receivable
1,270
Cash
1,270
B. Accounts Payable
1,270
Cash
1,270
C. NSF Check
1,270
Cash
1,270
D. Cash
1,270
Sales Revenue
1,270
A customer's check for $1,270 was returned for nonsufficient funds. Which

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

The Situation: During the wedding reception of Jeremy and Megan Fielding at the Fielding family mansion, Blake Rosewood, a guest at the wedding, ran yelling into the main ballroom, having discovered...

Q:

A customer's check for $1, 280 was returned for nonsufficients funds. Which of the following journal entries is needed to adjust for the NSF check? Which of the following items are reconciling items...

Q:

The cash account for Samson Supplies Co. at April 30, 2014, indicated a balance of $18,885. The bank statement indicated a balance of $23,775 on April 30, 2014. Comparing the bank statement and the...

Q:

Need help with the transaction set. Journal & ledgers ASAP OPERATING INSTRUCTIONS Introduction After you register for Seaside Marina, you will receive an email from Ivy Software containing three...

Q:

Please i need help with these questions . Will appreciate if someone answers these questions for me . FINANCIAL ACCOUNTING-CHAPTERS 4, 5 & 6 TEAM REVIEW GAME QUESTIONS CHAPTER 4 QUESTIONS 1. Which of...

Q:

x Acct 2110 CH. 4 TKH QZ.TRC.do... The type of fraud that occurs when employees steal money from their companies and cover it up by falsifying records: A. Misappropriation of assets B. Failure to...

Q:

1. Which of the following describes the internal control procedure "assignment of responsibilities"? A) To validate their accounting records, a company should have an audit by an external accountant....

Q:

This is for accounting. I need the answers as soon as possible to compare because my professor will not help. The transaction set and workbook is attached. OPERATING INSTRUCTIONS Introduction After...

Q:

76) A customer's check for $1,280 was returned for nonsufficient funds. Which of the following journal entries is needed to adjust for the NSF check? Accounts receivable Cash 1,2 B) Cash Sales...

Q:

Required information [The following information applies to the questions displayed below.] Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it...

Q:

Required information [The following information applies to the questions displayed below.] Part 2 of 2 4.2 points Chavez Company most recently reconciled its bank statement and book balances of cash...

Q:

Write the null and alternative hypotheses you would use to test each situation. a) In the 1950s, only about 40% of high school graduates went on to college. Has the percentage changed? b) Twenty...

Q:

Analyze each transaction listed below using the following header for formatting. Place Xs in the appropriate columns to indicate the transactions classification and its effect on cash flows using the...

Q:

If the bid - ask percentage spread on Swiss francs in 2 0 0 9 was 4 . 2 6 % , and the ask rate was $ 0 . 4 7 , what was the bid rate?

Q:

Consider the following zero-coupon yields on default-free securities: Maturity (years) 1 2 3 4 5 Zero-Coupon YTM 5.80% 5.50% 5.20% 5.00% 4.80% The forward rate for year 4 (the forward rate quoted...

Q:

=+ 6. This question asks you to analyze in more detail the two-sector endogenous growth model presented in the text.

Q:

=+ c. Write down the equation of motion for k, which shows k as saving minus break-even

Q:

=+investment. Use this equation to draw a graph showing the determination of steady-state k. (Hint: This graph will look much like those we used to analyze the Solow model.)