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Record the required journal entries for the general journal

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Reference no: EM132778552

The following information was available for Romney Supply Company for the month ended May 31, 2015.

(a) On May 31, 2015 the Cash account of Romney Supply Company had a balance of $35,850.

(b) On May 31, 2015 the bank statement indicated a balance of $54,580.

(c) The bank reported the collection of a note receivable for Romney of $7,300 including $500 interest.

(d) It was observed that the bank statement did not include a deposit of $4,700 made by Romney on May 31.

(e) Romney recorded an insurance expense payment of $150 as $1,500.

(f) Service charges of $150 were charged for cheque printing.

Problem 1: Record the required journal entries for the General Journal.

Reference no: EM132778552

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