The following information relates to Sunland Limited's Cash account. The reconciled cash balance from June's bank reconciliation is $25,100. During the month of July, Sunland recorded cash receipts of $28,260 and cash payments of $15,670 in the general ledger Cash account. At July 31, Sunland Limited had an reconciled cash balance of $37,690. An examination of the company's July bank statement shows a balance of $19,547 on July 31; outstanding cheques $3,917; deposits in transit $1,737; EFT collections on account that were not yet recorded on the books $2,189; NSF cheque $1,251; NSF fee $69; and bank service charges $109. Prepare the necessary journal entries required on July 31 for Sunland. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit July 31 (To record EFT collections on account)

The following information relates to Sunland Limited's Cash account. The reconciled cash balance from June's bank reconciliation is $25,100. During the month of July, Sunland recorded cash receipts of $28,260 and cash payments of $15,670 in the general ledger Cash account. At July 31, Sunland Limited had an reconciled cash balance of $37,690. An examination of the company's July bank statement shows a balance of $19,547 on July 31; outstanding cheques $3,917; deposits in transit $1,737; EFT collections on account that were not yet recorded on the books $2,189; NSF cheque $1,251; NSF fee $69; and bank service charges $109. Prepare the necessary journal entries required on July 31 for Sunland. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit July 31 (To record EFT collections on account)

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter8: Sarbanes-oxley, Internal Control, And Cash

Section: Chapter Questions

Problem 19E

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