Murphy Cotton Company's bank statement for the month of June and its general ledger cash account at the end of June are as follows:
Other information: Murphy had one deposit in transit of $2,100 and one outstanding check (#200) of $1,220 at May 31. All canceled check amounts agree with the bank statement
a. Identify all deposits in transit and outstanding checks at June 30.
b. Prepare a bank reconciliation for the month of June.
c. Prepare all journal entries required by Murphy at June 30. Assume any debit memorandum is a service charge, any credit memorandum is a collection of an account receivable, and any error relates to an account payable.

  • CreatedJuly 16, 2015
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