1. Classify the following items as (a) an addition to the bankbalance (b) a subt

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1. Classify the following items as (a) an addition to the bankbalance (b) a subtraction from the bank balance (c) an additionto the book balance or (d) a subtraction from the bookbalance:$20 in service chargesA $300 check deposited that was returned NSFAn outstanding check that you wrote for $2000A deposit in transit of $5500Bank Error: the bank credited your account for a deposit made byanother customer2. During 2011 Jimmy Enterprises completed the followingtransactions:a. Sales revenue on account $550000.b. Collections on account $325000c. Write-offs of uncollectible $13000d. Uncollectible account expense 5% of sales revenueRequired:1. Prepare the journal entries for the above transactions.

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