now Attempt History urrent Attempt in Progress The following information pertains to Concord Corporation. 1. Cash balance per bank, July 31, $7,763. 2. July bank service charge not recorded by the depositor $37. 3. Cash balance per books, July 31, $7,784. 4. Deposits in transit, July 31, $1,750. 5. The bank collected $1,166 in July for Concord through electronic funds transfer. The collection has not been recorded by Concord. 6. Outstanding checks, July 31, $600.

Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Internal Control And Cash
Section: Chapter Questions
Problem 7.3BE
icon
Related questions
Question
Questions and Bank Reconciliation Problem
Question 26 of 27
< >
50 / 100
View Policies
Show Attempt History
Current Attempt in Progress
The following information pertains to Concord Corporation.
1.
Cash balance per bank, July 31, $7,763.
2.
July bank service charge not recorded by the depositor $37.
3.
Cash balance per books, July 31, $7,784.
4.
Deposits in transit, July 31, $1,750.
5.
The bank collected $1,166 in July for Concord through electronic funds transfer. The collection has not been recorded by
Concord.
6.
Outstanding checks, July 31, $600.
(a)
Your answer is correct.
Drena o o
rOcenciliotionat luly 21 (List itoms th
ease coch halance fret Docencile ca
halo
II
Transcribed Image Text:Questions and Bank Reconciliation Problem Question 26 of 27 < > 50 / 100 View Policies Show Attempt History Current Attempt in Progress The following information pertains to Concord Corporation. 1. Cash balance per bank, July 31, $7,763. 2. July bank service charge not recorded by the depositor $37. 3. Cash balance per books, July 31, $7,784. 4. Deposits in transit, July 31, $1,750. 5. The bank collected $1,166 in July for Concord through electronic funds transfer. The collection has not been recorded by Concord. 6. Outstanding checks, July 31, $600. (a) Your answer is correct. Drena o o rOcenciliotionat luly 21 (List itoms th ease coch halance fret Docencile ca halo II
Questions and Bank Reconciliation Problem
Question 26 of 27
50 / 100
(b)
Journalize the adjusting entries at July 31 on the books of Concord Corporation. (Credit account titles are automatically indented
when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
July 31
(To record the collection of accounts receivable.)
July 31
(To record the bank service charge.)
eTextbook and Media
Assistance Used
List of Accounts
Transcribed Image Text:Questions and Bank Reconciliation Problem Question 26 of 27 50 / 100 (b) Journalize the adjusting entries at July 31 on the books of Concord Corporation. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 (To record the collection of accounts receivable.) July 31 (To record the bank service charge.) eTextbook and Media Assistance Used List of Accounts
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Bank reconciliation statement
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Corporate Financial Accounting
Corporate Financial Accounting
Accounting
ISBN:
9781305653535
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial & Managerial Accounting
Financial & Managerial Accounting
Accounting
ISBN:
9781337119207
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
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