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.




Jun 09, 2022
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