ent - Chapter 7 Question 1 of 2 Current Attempt in Progress 1. 2. 3. When Sheridan Holdings Ltd. received its bank statement for the month of October, it showed that the company had a cash balance of $21,049 as at October 31. Sheridan's general ledger showed a cash balance of $21,733 at that date. A comparison of the bank statement and the accounting records revealed the following information: 4 Bank service charges and debit and credit card processing fees for the month were $69. 4. 5. 6. 0.5/1 E : A cheque in the amount of $664 from one of Sheridan's customers that had been deposited during the last week of October was returned with the bank statement as "NSF." *** Cheque #3421, which was a payment for utilities expenses, had been correctly written for $977 but had been incorrectly recorded in the general ledger as $782. Sheridan had written and mailed out cheques with a value of $3,051 that had not yet cleared the bank account. During the month, the bank collected a $2,280 note receivable plus the outstanding interest of $205 on behalf of Sheridan. The interest had already been accrued by Sheridan. The cash receipts for October 31 amounted to $5,292 and had been deposited in the night deposit chute at the bank on the evening of October 31. These were not reflected on the bank statement for October. prepare journal enteries required from reconciliation . list all debit and credit enteris

When Sheridan Holdings Ltd, received its bank statement for the month of October, it showed that the company had a cash balance of $21,049 as at October 31 . Sheridan's general ledger showed a cash balance of $21,733 at that date. A comparison of the bank statement and the accounting records revealed the following information: 1. Bank service charges and debit and credit card processing fees for the month were $69. 2. Acheque in the amount of $664 from ofe of Sheridan's customers that had been deposited during the last week of October was returned with the bank statement as "NSF:" 3. Cheque $3421, which was a payment for utilities expenses, had been correctly written for $977 but had been incorrectly recorded in the general ledger as $782. 4. Sheridan had written and malled out cheques with a value of $3,051 that had not yet cleared the bank account. 5. During the month, the bank collected a $2,280 note receivable plus the outstanding interest of $205 on behalf of Sheridan. The interest had already been accrued by Sheridan. 6. The cash receipts for October 31 amounted to $5,292 and had been deposited in the night deposit chute at the bank on the evening of October 31 . These were not reflected on the bank statement for October