The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per
Question:
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?
b. Journalize any necessary entries for Reddan Company based on the bank reconciliation.
Step by Step Answer:
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac