Course Hero Logo
Question
Answered

Great Falls Co.'s bank reconciliation as of February 28 is shown...

Great Falls Co.'s bank reconciliation as of February 28 is shown below.

Bank balance $37,643 Book balance $38,153
+ Deposit in transit 2,950 Note collection +745
- Outstanding checks  -1,730 Check printing        -35
Adjusted book balance $38,863  

$38,863

The adjusting journal entries that Great Falls must record as a result of the bank reconciliation include:
Debit Note Payable $745; credit Cash $745.
Debit Cash $745; credit Note Receivable $745.
Debit Cash $2,950; credit Sales $2,950.
Debit Cash $2,950; credit Accounts Receivable $2,950.
Debit Miscellaneous Expense $35; credit Accounts Payable $35.

Answer & Explanation
Verified Solved by verified expert
itur


at, ultrices ac magna. Fusce dui lectus, c
facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, con

Unlock full access to Course Hero

Explore over 16 million step-by-step answers from our library

Subscribe to view answer
Student reviews
71% (7 ratings)
Other answer
<p>ongue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac ma</p> Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet

Unlock full access to Course Hero

Explore over 16 million step-by-step answers from our library

Subscribe to view answer

onsectetur adipisc


icitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit a

Student reviews
100% (5 ratings)