Journalize the adjusting entries at August 31 on the books of Crane Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

August 31

Enter an account title to record electronic funds transfer received by bank on july 31

Enter a debit amount

Enter a credit amount

Enter an account title to record electronic funds transfer received by bank on july 31

Enter a debit amount

Enter a credit amount

(To record electronic funds transfer received by bank)

August 31

Enter an account title to record bank service charge on july 31

Enter a debit amount

Enter a credit amount

Enter an account title to record bank service charge on july 31

Enter a debit amount

Enter a credit amount

(To record bank service charge)


The following information pertains to Crane Company.

1.		Cash balance per books, August 31, $7,424.
2.		Cash balance per bank, August 31, $7,388.
3.		Outstanding checks, August 31, $689.
4.		August bank service charge not recorded by the depositor $41.
5.		Deposits in transit, August 31, $2,760.

In addition, $2,076 collected for Crane Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Crane Company.

Answer rating: 100% (QA)

Solution Bank reconciliation Cash balance per bank statement ... View the full answer