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Journalize the following entries to record the adjusting entries on the books of Company YOU. Bank reconciling items:  Deposit in transit: ₱160,000 deposit on 6/29.  Outstanding check: ₱380,000 Check #1116 on 6/28. Book reconciling items:  Credit memos: ₱350,000 deposit on 6/10 + ₱410,000 deposit on 6/28 = ₱760,000.  Debit memos: ₱2,000 payment on 6/15 + ₱50,000 payment on 6/20 = ₱52,000.

Journalize the following entries to record the adjusting entries on the books of Company YOU. Bank reconciling items:  Deposit in transit: ₱160,000 deposit on 6/29.  Outstanding check: ₱380,000 Check #1116 on 6/28. Book reconciling items:  Credit memos: ₱350,000 deposit on 6/10 + ₱410,000 deposit on 6/28 = ₱760,000.  Debit memos: ₱2,000 payment on 6/15 + ₱50,000 payment on 6/20 = ₱52,000.

Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 2AP
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Journalize the following entries to record the adjusting entries on the books of Company YOU.

Bank reconciling items:

 Deposit in transit: ₱160,000 deposit on 6/29.
 Outstanding check: ₱380,000 Check #1116 on 6/28.

Book reconciling items:

 Credit memos: ₱350,000 deposit on 6/10 + ₱410,000 deposit on 6/28 = ₱760,000.
 Debit memos: ₱2,000 payment on 6/15 + ₱50,000 payment on 6/20 = ₱52,000.

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