Ashley and Son had the following information before preparing their bank reconciliation. 1. Balance of Cash...

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Ashley and Son had the following information before preparing their bank reconciliation. 1. Balance of Cash account on company's books at March 31, $6,459. 2. Balance per bank statement, dated January 31, $6,317. 3. A customer's check for $756 was returned to the bank for non-sufficient funds. 4. The $2,050 deposit of January 31 was not included in the bank statement. 5. Of the checks recorded as cash disbursements in January, check #1238 for $289, #1241 for $658, and #1257 for $292 have not cleared the bank. 6. The bank posted in the company's account a $1,500 proceeds of a non-interest-bearing note that it collected for the company. 7. The bank statement included a monthly service charge of $175. Based on the above information, record any required journal entries to correct Ashley and Son's cash account on company's books at March 31st. Ashley and Son had the following information before preparing their bank reconciliation. 1. Balance of Cash account on company's books at March 31, $6,459. 2. Balance per bank statement, dated January 31, $6,317. 3. A customer's check for $756 was returned to the bank for non-sufficient funds. 4. The $2,050 deposit of January 31 was not included in the bank statement. 5. Of the checks recorded as cash disbursements in January, check #1238 for $289, #1241 for $658, and #1257 for $292 have not cleared the bank. 6. The bank posted in the company's account a $1,500 proceeds of a non-interest-bearing note that it collected for the company. 7. The bank statement included a monthly service charge of $175. Based on the above information, record any required journal entries to correct Ashley and Son's cash account on company's books at March 31st.

Answer rating: 100% (QA)

To correct Ashley and Sons cash account on the companys books at March 31st we need to make journal ... View the full answer