Question: Make journal entries. 1. 22-Apr-24: Received debit memo, dated today, from the bank, indicating a $215.00 payment was made on the bank loan that includes

Make journal entries.

1. 22-Apr-24: Received debit memo, dated today, from the bank, indicating a $215.00 payment was made on the bank loan that includes interest of $76.44. The loan was received on March 22.

2. 24-Apr-24: Mrs. Chikowski decided to invest an additional $2,000.00 in the business, as she is going to purchase a new photo machine from another business. She is transferring $2,000.00 from her personal bank account to the company's bank account and asked you to record the investment.

3. 25-Apr-24: Mrs. Chikowski advised you that she decided to increase the investment in the business to $3,000.00, when she was at the bank (April 24). She gave you the $3,000 bank transfer document.

4. 30-Apr-24: You received a Bank Statement with a Debit memo dated April 29, 2024 from the bank advising that they have deducted $22.46 from your bank account for service charges.

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!