0.50 points Brief Exercise 4-11 Record adjustments to the company\'s cash balanc

Question

0.50 points Brief Exercise 4-11 Record adjustments to the company's cash balance (LO4-5) Bourne Incorporated reports a cash balance at the end of the month of $2,545. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($82), an NSF check from customer (S320), a customer's note receivable collected by the bank (S1,000), and interest earned (S32). Required: Record the necessary entries to adjust the balance of cash. (If no entry is required for a transactionevent, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit

Explanation / Answer

the following are the required journal entries:

no transaction debit credit 1 Cash a/c $1,032 ..........To notes receivable a/c $1,000 ..........To interest reveue a/c $32 (to record increase in cash balance due to interest and notes receivable) 2 service fees expense a/c $82 accounts receivable a/c $320 .................To cash a/c $402 (being service fees expense and NSF check from customer now recorded)

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