Question: Make the necessary journal entries arising from Cape Auto Centers bank reconciliation presented next. Date each entry May 31 and include an explanation with eachentry.

Make the necessary journal entries arising from Cape Auto Center€™s bank reconciliation presented next. Date each entry May 31 and include an explanation with eachentry.

Cape Auto Center Bank Reconciliation May 31 BANK B00KS Bal, May 31 Add: Deposit in transit $ 681 Bal, May 31 Add: S 785 300 Interest revenue 981 790 Less: Service charge Less: Outstanding checks (19) 140 631 (350) NSF Checks Adjusted bank balance 563 Adjusted book balance

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