Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. cornerstone exercise 4-19 (algorithmic) adjusting

Cornerstone Exercise 4-19 (Algorithmic) Adjusting Entry from Bank Reconciliation Pyramid Corporation is assessed a $26...

90.2K

Verified Solution

Question

Accounting

image

Cornerstone Exercise 4-19 (Algorithmic) Adjusting Entry from Bank Reconciliation Pyramid Corporation is assessed a $26 fee as the result of a $185 NSF check received from a customer for services purchased on account. Neither the fee nor the NSF check has been accounted for on Pyramid's books. Required: Record the appropriate journal entry to update Pyramid's books. If an amount box does not require an entry, leave it blank. Bank Service Charge Expense Accounts Receivable Cash (Record NSF check and accompanying bank service charge) Feedback Check My Work Adjusting journal entries are required for all transactions correctly recorded by the bank that have not yet been included in the accounting recor

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students