Roucher Corporation's bank statement included two types of electronic funds transfers (EFT). One type of EFT totaled $10,000 and was from customers paying their accounts online. Another type of EFT totaled $16,500 and was from Roucher paying its accounts payable online. Required: (a) How will each of these items affect Roucher's bank reconciliation? (b) Prepare the required journal entries, if any, that Roucher will make to record the above information on its books.

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The Answer of Roucher Corporation's bank statement included two types of electronic funds transfers (EFT). One type of EFT totaled $10,000 and was from customers paying their accounts online. Another type of EFT totaled $16,500 and was from Roucher paying its accounts payable online. Required: (a) How will each of these items affect Roucher's bank reconciliation? (b) Prepare the required journal entries, if any, that Roucher will make to record the above information on its books.

Roucher Corporation's Bank Statement Included Two Types of Electronic Funds