The following information regarding cash for Alpha Company is provided for the month ending March 31, 2016:
Question:
The following information regarding cash for Alpha Company is provided for the month ending March 31, 2016:
| Item | Amount |
| Ending Cash per Bank Statement | $22,484 |
| Note collected by bank included interest of $106 | $5,106 |
| Bank Service Charges | $35 |
| Deposits in Transit | $1,776 |
| Outstanding Checks | $4,717 |
| Customer Check returned NSF | $322 |
A review of the bank statement reflected that check #224 recorded in the company check register as $1,725 to settle an accounts payable, was paid by the bank for the amount of $1,275. Use this information to prepare the compound General Journal entry (without explanation) for March 31, 2016, to cause the company books to match the adjusted cash balance based on the completed bank reconciliation. If no entry is required then write "No Entry Required."
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