Question

Brett Knight Corporation operates four bowling alleys. The business just received the October 31 bank statement from City National Bank, and the statement shows an ending balance of $ 905. Listed on the statement are an EFT rent collection of $ 410, a service charge of $ 10, NSF checks totaling $ 70, and a $ 30 charge for printed checks. In reviewing the cash records, the business identified outstanding checks totaling $ 450 and a deposit in transit of $ 1,775. During October, the business recorded a $ 310 check by debiting Salaries Expense and crediting Cash for $ 31. The business’s Cash account shows an October 31 balance of $ 2,209.

Requirements
1. Prepare the bank reconciliation at October 31.
2. Journalize any transactions required from the bank reconciliation.



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  • CreatedJanuary 16, 2015
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