P8-3A - Name Instructor Financial Accounting 5th Edition by...

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FileName: d980bb1fcc8824cb1f5423d6ebfe63ae2536ce3a.xls, Tab: Problem P8-3A, Page 1 of 2, 10/06/2009, 03:40:41 Name: Date: Instructor: Course: Date: Explanation: Ref: Debit: Credit: Balance: May 31 Balance 6,781.50 The bank statement from Lawrence State Bank on that date showed the following balance. Lawrence State Bank Checks and Debits Deposits and Credits Daily Balance May 31 6,804.60 A comparison of the details on the bank statement with the details in the cash account revealed the following facts. 1. The statement included a debit memo of $40.00 for the printing of additional company checks. 2. Cash sales of $836.15 on May 12 were deposited in the bank. The cash receipts journal entry and the deposit slip were incorrectly made for $846.15 The bank credited Agricultural Genetics Company for the correct amount. 3. Outstanding checks at May 31 totaled $315.25 and deposits in transit were $936.15 4. On May 18, the company issued check no. 1181 for $685.00 to M. Datz on account. The check which cleared the bank
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This note was uploaded on 04/04/2009 for the course ACC 321 taught by Professor Ahmedmokhtar during the Spring '09 term at Ain Shams University.

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P8-3A - Name Instructor Financial Accounting 5th Edition by...

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