Question: Problem 3. Using the following information, prepare a bank reconciliation and any adjusting entries necessary as a result of the bank reconciliation for Larson Company
Problem 3. Using the following information, prepare a bank reconciliation and any adjusting entries necessary as a result of the bank reconciliation for Larson Company for May 31, 2015. a. The bank statement balance is $9,100 b. The cash account balance is $7,712 c. Outstanding checks totaled $1,600. 2 d. Deposits in transit are $300 e. Collection of note by bank $400, and interest earned $12. f. The bank service charge is $24. g. A NSF check for $100 from a customer was returned with the statement. h. A check for $300 from a customer on account that cleared the bank in May was journalized and posted for $500
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