The bank reconciliation shows the following adjustments. Deposits in transit: $1,698 Notes receivable collected by
Question:
The bank reconciliation shows the following adjustments.
• Deposits in transit: $1,698
• Notes receivable collected by bank: $2,500; interest: $145
• Outstanding checks: $987
• Error by bank: $436
• Bank charges: $70
Prepare the correcting journal entry.
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Step 1 Solution bank reconciliation is prepared to reconcile the balance of cash as per b...View the full answer
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Related Book For 
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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