The Cash account of Ranger Corporation had a balance of $3,510 at August 31,2021. Included...
70.2K
Verified Solution
Question
Accounting
The Cash account of Ranger Corporation had a balance of $ at August Included were outstanding checks totaling $ and an August deposit of $ that did not appear on the bank statement. The bank statement, which came from Circle State Bank, listed an August balance of $ Included in the bank balance was an August collection of $ on account from a customer who pays the bank directly. The bank statement also showed a $ service charge, $ of interest revenue that Ranger earned on its bank balance, and an NSF check for $ Ranger Corporation's bank reconciliation follows. Click the icon to view the bank reconciliation report. Read the requirement. Make the company's journal entries for transactions that arise from the bank reconciliation. Date each transaction August and include an explanation with each entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table. Record the bank collection. Journal Entry tableDateAccounts and Explanations,Cash,AugAccounts Receivable
The Cash account of Ranger Corporation had a balance of $ at August Included were outstanding checks totaling $ and an August deposit of $ that did not appear on the bank statement. The bank statement, which came from Circle State Bank, listed an August balance of $ Included in the bank balance was an August collection of $ on account from a customer who pays the bank directly. The bank statement also showed a $ service charge, $ of interest revenue that Ranger earned on its bank balance, and an NSF check for $ Ranger Corporation's bank reconciliation follows.
Click the icon to view the bank reconciliation report.
Read the requirement.
Make the company's journal entries for transactions that arise from the bank reconciliation. Date each transaction August and include an explanation with each entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.
Record the bank collection.
Journal Entry
tableDateAccounts and Explanations,Cash,AugAccounts Receivable
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.