The following data were accumulated for use in reconciling the bank account of Nakajima Co. for July: 1. Cash balance according to the company’s records at July 31, $24,403. 2. Cash balance according to the bank statement at July 31, $31,504. 3. Checks outstanding, $13,345. 4. Deposit in transit, not recorded by bank, $6,727. 5. A check for $55 issued in payment of an account was erroneously recorded in the check register as $550. 6. Bank debit memo for service charges, $12. Required: Journalize the entry or entries that should be made by the company. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries.

The following data were accumulated for use in reconciling the bank account of Nakajima Co. for July: 1. Cash balance according to the company’s records at July 31, $24,403. 2. Cash balance according...

The following data were accumulated for use in reconciling the bank account of Nakajima Co. for July:

1.	Cash balance according to the company’s records at July 31, $24,403.
2.	Cash balance according to the bank statement at July 31, $31,504.
3.	Checks outstanding, $13,345.
4.	Deposit in transit, not recorded by bank, $6,727.
5.	A check for $55 issued in payment of an account was erroneously recorded in the check register as $550.
6.	Bank debit memo for service charges, $12.

Required:

Journalize the entry or entries that should be made by the company. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries.

Jun 10, 2022

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The following data were accumulated for use in reconciling the bank account of Nakajima Co. for July: 1. Cash balance according to the company’s records at July 31, $24,403. 2. Cash balance according...

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