Question

Don Wyatt is unable to reconcile the bank balance at January 31. Don’s reconciliation is as follows.
Cash balance per bank ......... $3,560.20
Add: NSF check ............ 490.00
Less: Bank service charge ......... 25.00
Adjusted balance per bank ........ $4,025.20
Cash balance per books .......... $3,875.20
Less: Deposits in transit ......... 530.00
Add: Outstanding checks ......... 730.00
Adjusted balance per books ........ $4,075.20

Instructions
(a) Prepare a correct bank reconciliation.
(b) Journalize the entries required by the reconciliation.



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  • CreatedJanuary 30, 2014
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