The following information pertains to Gilmore Company. 1. Cash balance per bank, July 31, $7,328. 2. July
Question:
The following information pertains to Gilmore Company.
1. Cash balance per bank, July 31, $7,328.
2. July bank service charge not recorded by the depositor $40.
3. Cash balance per books, July 31, $7,280.
4. Deposits in transit, July 31, $2,700.
5. Note for $2,000 collected for Gilmore in July by the bank, plus interest $36 less fee $20. The collection has not been recorded by Gilmore, and no interest has been accrued.
6. Outstanding checks, July 31, $772.
Instructions
(a) Prepare a bank reconciliation at July 31, 2010.
(b) Journalize the adjusting entries at July 31 on the books of Gilmore Company.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted: