Using the following information, prepare the journal entries to reconcile the bank statement. Bank balance: $6,988 Book balance: $8,923 Deposits in transit: $1,875 Outstanding checks: $569 and $1,423...

Using the following information, prepare the journal entries to reconcile the bank statement.

• Bank balance: $6,988


• Book balance: $8,923


• Deposits in transit: $1,875


• Outstanding checks: $569 and $1,423


• Bank service charges: $75


• Bank incorrectly charged the account $75. The bank will correct the error next month.


• Check number 2456 correctly cleared the bank in the amount of $123 but posted in the accounting records as $213. This check was expensed to Utilities Expense.

If an amount box does not require an entry, leave it blank.