Question

The bank statement dated February 28, 2018, for Crystal Clear follows:
Additional data for the bank reconciliation follow:
a. The company had the following EFT transactions:
• EFT credit on February 23 was a receipt of cash for services on account
• EFT debit on February 2 was a payment for printing of business checks
• EFT debit on February 28 was a payment for utilities
b. At February 28, there was a $900 deposit in transit.
c. The book balance as of January 31, 2018, was $78,750.
d. Check #238, $350, and check #241, $200, were still outstanding at the end of the month.
Requirements
1. Prepare the bank reconciliation.
2. Journalize any required entries from the bank reconciliation.


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  • CreatedJune 12, 2015
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