Interest revenue shown on the bank statement, Accounting Basics

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Interest revenue shown on the bank statement

The cash balance in ABC Company's general ledger is $14,000 and the cash balance shown on its bank statement is $19,000. Reconciling items include outstanding checks totaling $8,000, deposits in transit totaling $4,000, unrecorded bank service charges of $1,000, and interest revenue shown on the bank statement of $2,000. For what amounts should ABC Company make adjusting entries?

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Accounting Basics: Interest revenue shown on the bank statement

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Accounting Basics: Interest revenue shown on the bank statement

Reference No:- TGS096829

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Budgeted direct labor costs problem

Q : Calculation of amount of gain-loss recognized by lane

Q : Determine the cost per pound of goody

Q : Higher earnings per share of common stock

Q : Interest revenue shown on the bank statement

Q : Break even point in dollars of sales

Q : Sales in the second quater

Q : Income statement for the period disclosing effects

Q : Record the bond pruchase

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Interest revenue shown on the bank statement

Reference No:- TGS096829

Recent Questions Asked Accounting Basics

Q : Budgeted direct labor costs problem

Q : Calculation of amount of gain-loss recognized by lane

Q : Determine the cost per pound of goody

Q : Higher earnings per share of common stock

Q : Interest revenue shown on the bank statement

Q : Break even point in dollars of sales

Q : Sales in the second quater

Q : Income statement for the period disclosing effects

Q : Record the bond pruchase

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