The bank statement contained two bank memoranda:1. A credit of $2,242.00 for the collection for Bogalusa Company of an electronic funds transfer. 2 A debit for the printing of additional company checks $85.00. At November 30, the cash balance per books was $11,073.80 and the cash balance per bank statement was $17,712.50. The bank did not make any errors, but Bogalusa Company made two errors.

Question

Business

Emmett Rhodes

20 September, 18:09

The bank statement contained two bank memoranda:1. A credit of $2,242.00 for the collection for Bogalusa Company of an electronic funds transfer. 2 A debit for the printing of additional company checks $85.00. At November 30, the cash balance per books was $11,073.80 and the cash balance per bank statement was $17,712.50. The bank did not make any errors, but Bogalusa Company made two errors.

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Answers (1)

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Teagan Mcguire · Answer 1

Cash 2,157 debit

bank service expense 85 debit

account receivables 2,242 credit

Explanation:

To record the bank memorand:

The collection in behalf of the firm will increase cash

The new print the checks will be considered either miscellaneuos expense or bank service expense either way, will decrease cash.

Net cash variation: 2,242 - 85 = 2,157

For the Company errors another entry will be made looking for errors between our numebrs and the bank.