Question: Please read the question CAREFULLY. Please ANSWER ALL THE QUESTIONS correctly. Any WRONG or MISSING answers will be DOWNVOTED. Thank you! 2. The General Ledger

Please read the question CAREFULLY. Please ANSWER ALL THE QUESTIONS correctly. Any WRONG or MISSING answers will be DOWNVOTED. Thank you!
2. The General Ledger cash balance for Feagen Company on October 31,2017 is $8,736.01. The October 31,2017 bank statement ending balance is $10,951.01. The following checks and receibts were recorded for the month of October 2017 : 1 Legend: NSF (Non-sufficient funds) Additional information: - Check no. 18 was correctly written for $708.62 for a payment on account but was recorded incorrectly in the cash payments journal. - The NSF check was from a customer, S. Long, in settlement of an accounts receivable. An entry had not been made for the NSF check. - The credit memo is for the collection of a notes receivable in the amount of $1,040 plus accrued interest of $60. Instructions a) Prepare a bank reconciliation at October 31,2017 b) Prepare the journal entries required by the bank reconciliation c) What is the balance in the general ledger cash account after the journal entries have been posted? \$
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
