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Question: to record a wriseoft of an ning the drect metthod...

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to record a wrise-oft of an ning the drect metthod invelves e, credit to Cash so Bad Debes Expeme oosts 345,000 when mew g A copy machine esipany sold the maxbine for 51,000. wha is the reuit of the disposal trensstio a No gain no loss s. Gain of31.000 10. Your and has aceumulated deprecistion of $44,000. Suppose your b. Loss of $1.000 d. Loss of 545,000 cempany sells 5180,000 (selling price) of goods and cellects seles Nability does the sales crease? a Sales revenue of S194,400 c. Sales tax payable of $14,400. IL (z0) b. Unearned Revenue of $194,400 d. Sales revenue of $180,000 The December cash reeord of ABB Insurance follow Cash Debit ash Credit Dec 3 S 4,150 S 850 160 670 1,690 1,450 1,200 2417 16 2,190 1,870 2419 2420 2421 31 ABB Insurances cash account shows received the following bank statement a balance of $16,650 at December 31. On December 31, the company balance Bank Statement for December Beginning Balance S14,000 EFT s 400 Dec. 2 Dec. 1 S 700 850 NSF 4,150 11 Check NO. 2416 19 22 Check NO. 2417 29 Check NO. 2418 31 Check NO. 2419 31 EFT 16 24 25 560 2,190 1,700 160 670 1,960 10 BC SC Ending Balance$18,590 Notes: BC-bank collection: EFT-electronie funds transfer, NSF-nonsufficient funds check SC-service charge Additional data for the bank reconciliation follows: a. The EFT credit was a receipt of rent. The EFT debit was an insurance payment b. The NSF check was received from a customer named Dunlap Chemical. c. The $1,700 bank collection was for a note receivable. d. The correct amount of Check 2419 for rent expense is $1,940 instead of $1,490 on cash records. 1) Prepare the bank reconciliation for ABB Insurance as at December 31 2) Journalize any required entries from the bank reconciliation.
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