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Prepare the adjustment entries at september

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Reference no: EM131592938

Problem - The information below relates to the Cash account in the ledger of Minton Company.

Balance September 1-$17,270;                   Cash deposited - $64,390

Balance September 30 - $17,804;              Checks written - $63,856  

The September bank statement shows a balance of $16,822 on September 30 and the following memoranda.

Credits

Debits

Collection of $1,692 note plus interest $38 - $1,730

NSF check; Richard Nance - $625

Interest earned on checking account - $53

Safety deposit box rent - $73

At September 30, deposits in transit were $4,650, and outstanding checks totaled $2,583.

Required - Prepare the adjustment entries at September 30, assuming (1) the NSF check was from a customer on account , and (2) no interest had been accrued on the note.

Reference no: EM131592938

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