Homework Help is Here – Start Your Trial Now!
Business
Accounting
Great Falls Company's bank reconciliation as of February 28 is shown below. Bank balance + Deposit in transit Outstanding checks Adjusted bank balance $ 38,643 3,450 2,230 Book balance Note collection Check printing $ 39,863 Adjusted book balance $ 39,053 +845 -35 $ 39,863 One of the journal entries that Great Falls Company must record as a result of the bank reconciliation includes: Multiple Choice Debit Cash $845; credit Notes Receivable $845. Debit Notes Payable $845; credit Cash $845. Debit Cash $3,450; credit Accounts Receivable $3,450. Debit Cash $3,450; credit Sales $3,450. Debit Miscellaneous Expense $35; credit Accounts Payable $35.

Great Falls Company's bank reconciliation as of February 28 is shown below. Bank balance + Deposit in transit Outstanding checks Adjusted bank balance $ 38,643 3,450 2,230 Book balance Note collection Check printing $ 39,863 Adjusted book balance $ 39,053 +845 -35 $ 39,863 One of the journal entries that Great Falls Company must record as a result of the bank reconciliation includes: Multiple Choice Debit Cash $845; credit Notes Receivable $845. Debit Notes Payable $845; credit Cash $845. Debit Cash $3,450; credit Accounts Receivable $3,450. Debit Cash $3,450; credit Sales $3,450. Debit Miscellaneous Expense $35; credit Accounts Payable $35.

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
Section: Chapter Questions
Problem 5.21E
See similar textbooks
icon
Related questions
Question

k

Great Falls Company's bank reconciliation as of February 28 is shown below. Bank balance + Deposit in transit Outstanding checks Adjusted bank balance $ 38,643 3,450 2,230 Book balance Note collection Check printing $ 39,863 Adjusted book balance $ 39,053 +845 -35 $ 39,863 One of the journal entries that Great Falls Company must record as a result of the bank reconciliation includes: Multiple Choice Debit Cash $845; credit Notes Receivable $845. Debit Notes Payable $845; credit Cash $845. Debit Cash $3,450; credit Accounts Receivable $3,450. Debit Cash $3,450; credit Sales $3,450. Debit Miscellaneous Expense $35; credit Accounts Payable $35.
Transcribed Image Text:Great Falls Company's bank reconciliation as of February 28 is shown below. Bank balance + Deposit in transit Outstanding checks Adjusted bank balance $ 38,643 3,450 2,230 Book balance Note collection Check printing $ 39,863 Adjusted book balance $ 39,053 +845 -35 $ 39,863 One of the journal entries that Great Falls Company must record as a result of the bank reconciliation includes: Multiple Choice Debit Cash $845; credit Notes Receivable $845. Debit Notes Payable $845; credit Cash $845. Debit Cash $3,450; credit Accounts Receivable $3,450. Debit Cash $3,450; credit Sales $3,450. Debit Miscellaneous Expense $35; credit Accounts Payable $35.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage
SEE MORE TEXTBOOKS