The December cash records of Davidson Insurance follow Davidsons Cash account shows a balance of $17,450 at

Question:

The December cash records of Davidson Insurance follow

image text in transcribed

Davidson’s Cash account shows a balance of $17,450 at December 31. On December 31, Davidson Insurance received the following bank statement

image text in transcribed

Additional data for the bank reconciliation follow:

a. The EFT credit was a receipt of rent. The EFT debit was an insurance payment.

b. The NSF check was received from a customer.

c. The $1,400 bank collection was for a note receivable.

d. The correct amount of check no. 1419, for rent expense, is $1,930. Davidson’s controller mistakenly recorded the check for $1,390.
Requirements

1. Prepare the bank reconciliation of Davidson Insurance at December 31, 2024.
2. Journalize any required entries from the bank reconciliation

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Horngrens Financial And Managerial Accounting The Financial Chapters

ISBN: 9781292412320

7th Global Edition

Authors: Tracie Miller-Nobles, Brenda Mattison, Ella Mae Matsumura

Question Posted: