Academy Grill Supply On October 1, 2020, the company receive…

Academy Grill Supply On October 1, 2020, the company received a $50,000 promissory note from a customer. The annual interest rate is 6%. Principal and interest will be collected in cash at the maturity date of September 30, 2021.   Refer to Academy Grill Supply. If the company’s year ends December 31, 2020, an adjusting entry is needed to

Dance Town AcademyThe items listed below were identified whi…

Dance Town AcademyThe items listed below were identified while preparing a bank reconciliation for the company’s checking account as of March 31. Cash balance according to the general ledger ? Bank statement balance $18,500 Outstanding checks 2,700 Customer’s NSF check 350 Bank service charges 100 Deposits in transit 1,000 Interest earned on the checking account 60   Refer to Dance Town Academy. How will the interest earned on the checking account be handled on a bank reconciliation?