After preparing Ranger Security Systems' bank reconciliation in Starter 8-7, journalize the company's transactions that arise from
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In Starter 8-7
The Cash account of Ranger Security Systems reported a balance of $2,480 at May 31, 2014. There were outstanding cheques totalling $900 and a May 31 deposit in transit of $200. The bank statement, which came from Royal Bank, listed a May 31 balance of $3,800. Included in the bank balance was a collection of $630 on account from Kelly Brooks, a Ranger customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Ranger earned on its bank balance.
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Related Book For
Accounting Volume 1
ISBN: 978-0132690096
9th Canadian edition
Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
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