The following data were gathered to use in reconciling the bank account of Reddan Company: Balance...

 

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The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per bank $25,750 Balance per company records 19,140 Bank service charges 45 Deposit in transit 2,300 Note collected by bank with $200 interest 5,200 Outstanding checks 3,755 a. What is the adjusted balance on the bank reconciliation? Feedback Check My Work a. Set up two sections: one for the company cash account section and the other for the bank balance section. Determine the effect of the data on each section. Recall that when you are finished, the adjusted balances in the bank and company sections of the reconciliation must be equal. If not, an item has been overlooked or treated in error. b. Journalize any necessary Intries for Reddan Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank. Accounts Receivable Accounts Receivable X Accounts Receivable Accounts Receivable Accounts Receivable X The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per bank $25,750 Balance per company records 19,140 Bank service charges 45 Deposit in transit 2,300 Note collected by bank with $200 interest 5,200 Outstanding checks 3,755 a. What is the adjusted balance on the bank reconciliation? Feedback Check My Work a. Set up two sections: one for the company cash account section and the other for the bank balance section. Determine the effect of the data on each section. Recall that when you are finished, the adjusted balances in the bank and company sections of the reconciliation must be equal. If not, an item has been overlooked or treated in error. b. Journalize any necessary Intries for Reddan Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank. Accounts Receivable Accounts Receivable X Accounts Receivable Accounts Receivable Accounts Receivable X

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The Adjusted Balance is given below Bank Reconciliation Ba... View the full answer