Thompson company gathered the following reconciling information in preparing its october bank reconciliation: cash balance per bank, october 31 $ 14,297 note receivable collected by bank 6,285 outstanding checks 10,275 deposits in transit 5,830 bank service charge 292 nsf check 1,868 using the above information, determine the cash balance per books (before adjustments) for thompson company.

On june 3, teal company sold to chester company merchandise having a sale price of $2,600 with terms of 2/10, n/60, f. o.b. shipping point. an invoice totaling $91, terms n/30, was received by chester on june 8 from john booth transport service for the freight cost. on june 12, the company received a check for the balance due from chester company. prepare journal entries on the teal company books to record all the events noted above under each of the following bases. (1) sales and receivables are entered at gross selling price. (2) sales and receivables are entered at net of cash discounts.