ACCT216Week 3 Homework1. Classify the following items as (a) an addition to the bank balance, (b) a

ACCT216Week 3 Homework1. Classify the following items as (a) an addition to the bank balance, (b) a subtraction from thebank balance, (c) an addition to the book balance, or (d) a subtraction from the book balance:_____ Deposits in transit_____ Non-sufficient funds check_____ Outstanding checks_____ Bank Service Charge_____ Bank Error: the bank debited our account for a deposit made by another customer2. During 2013, Jimmy Enterprises completed the following transactions:a. Sales revenue on account, $620,000.b. Collections on account, $365,000c. Write-offs of uncollectibles, $15,000d. Uncollectible account expense, 4% of sales revenueRequired:1. Start with an accounts receivable balance of $435,000 and post the above entries tothe Accounts Receivable T-Account.

 

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