Entries for Note Collected by Bank Accompanying a bank statement for Santee Company is a credit memo for $15,120 representing the principal ($14,000) and interest ($1,120) on a note that had been collected by the bank. The company had been notified by the bank at the time of the collection but had made no entries. Journalize the entry that should be made by the company to bring the accounting records up to date. For a compound transaction, if an amount box does not require an entry, leave it blank.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Entries for Note Collected by Bank Accompanying a bank statement for Santee Company is a credit memo for $15,120 representing the principal ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The price of pie increases. Some people who purchased pie before the price increase no longer purchase pie. This is A. a negative externality. B. a positive externality for some consumers and a negative externality for others. C. not an externality.
Answers (1)
Saphire Company budgeted the following production in units for the second quarter of the year: April 45,000 May 38,000 June 42,000 Each unit requires one pound of raw material.
Answers (1)
The marginal benefit of an additional beach towel is $12. the marginal cost of producing an additional beach towel is $8. if producers are minimizing the average costs of production, then we can conclude:
Answers (1)
Chuck and Rob work for the same company and earn the same pay. Rob spends his free time taking work-related classes to improve his computer skills, while Chuck spends his free time socializing with friends and attending movies.
Answers (1)
The phenomenon that magnifies the variability in order quantities for goods as orders move through the supply chain from the customer to the producer is called the bullwhip effect. A. True B. False
Answers (1)
New Questions in Business
Harootunian Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours.
Answers (1)
Chegg In year 1, the capital stock was 6, the labor input was 3, and output was 12. In year 2, the capital stock was 7, the labor input was 4, and output was 14. What happened to total factor productivity between the two years?
Answers (1)
A company's adjustment for uncollectible accounts at year-end would include a: Multiple Choice Debit to Bad Debt Expense. Credit to Accounts Receivable. Debit to Accounts Receivable. Debit to Allowance for Uncollectible Accounts.
Answers (1)
Explain the differences between transactional and relationship marketing. How do these differences lead to increasing emphasis on logistical performance in supply chain management
Answers (1)
In the context of investing, the term market refers to
Answers (1)