Posted: July 7th, 2016

Indicate word Debit followed by thr account title(name)?

Prepare a bank reconciliation for XYZ Company at September 30 using the following informatiom:

Balance per XYZ Company bank statement at September 30. $ 7,351.10
Outstanding checks 5,645.45
NSF checks fronm customers 444.22
Deposits in transit 7,135.46
Interest Revenue 100.00
Service charge 230.30
Cash balance per XYZ’s records at September 30 9,415.63

Woodcross LLC had the following events occur during the month of July.
1. Received $40,000 from investors for contributed capital
2. Borrowed $15,500 from bank
3. Paid $4,000 in rent
4. Made sale on account for $12,500
5. Made cash sales to customers totaling $29,700
6. Repaid part of bank loan for $6,000
7. Purchased new equipment for $5,000
8. Paid $13,000 for wages
9. Paid $1,900 for utilities

Prepare the nine journal entries. Each entry will have a debit and a credit entry. Indicate word Debit followed by thr account title(name); Credit followed by the account title(name).

Debit Cash xxx(amount)
Credit Contributed Capital (amount)

Use appropriate account title(names); there is no need to indent as ecollege may not retain the indent. Please include words debit and credit before the account title (name) and amount clearly.

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