Question

Required information Use the following information for the Exercises below. The following information applies to the questions displayed below Del Gato Clinic's cash account shows a $14,675 debit balance and its bank statement shows $15,065 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2.986. b. The June 30 bank statement lists a $80 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $389 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $398. d. The June 30 cash receipts of $2,525 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement.

Answer 1

Transaction Journal Entries Account Title and Explanation No Journal Entry required Debit Credit $ 80 Miscellaneous expense Cash (To record bank service charge) $ 80 C $ 9 ($ 398 - $ 389) Cash Utilities Expense No Journal Entry required