The following information is available for Pyle Garage for March Year 1: The following is a list


The following information is available for Pyle Garage for March Year 1:

BANK STATEMENT HAZARD STATE BANK 215 MAIN STREET HAZARD, GA 30321 Pyle Garage 629 Main Street Account number 62-00062 Ha

The following is a list of checks and deposits recorded on the books of Pyle Garage for March Year 1:

Amount Date Check No. Amount of Check of Deposit Date March $ 62.00 1,235.00 1 March March March March 10 March 14 March

Other Information
1. Check no. 1462 was outstanding from February.
2. A credit memo for collection of accounts receivable was included in the bank statement.
3. All checks were paid at the correct amount.
4. The bank statement included a debit memo for service charges.
5. The February 28 bank reconciliation showed a deposit in transit of $1,000.
6. Check no. 1468 was for the purchase of equipment.
7. The unadjusted Cash account balance at March 31 was $16,868.

Prepare the bank reconciliation for Pyle Garage at the end of March.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Related Book For  answer-question

Introductory Financial Accounting for Business

ISBN: 978-1260299441

1st edition

Authors: Thomas Edmonds, Christopher Edmonds

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