The following information pertains to Worthy Video Company. 1. Cash balance per bank, July 31, $7,293. 2.
Question:
The following information pertains to Worthy Video Company.
1. Cash balance per bank, July 31, $7,293.
2. July bank service charge not recorded by the depositor $28.
3. Cash balance per books, July 31, $7,384.
4. Deposits in transit, July 31, $1,500.
5. Bank collected $800 note for Worthy in July, plus interest $36, less fee $20. The collection has not been recorded by Worthy, and no interest has been accrued.
6. Outstanding checks, July 31, $621.
Instructions
(a) Prepare a bank reconciliation at July 31.
(b) Journalize the adjusting entries at July 31 on the books of Worthy Video Company.
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Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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