The following information was taken from the accounting records of Palmetto Company for the month of January:
Question:
The following information was taken from the accounting records of Palmetto Company for the month of January: Balance per bank $6,150 Balance per company records $3,580 Bank service charge for January $20 Deposits in transit $940 Interest on note collected by bank $100 Note collected by bank $1,000 NSF check returned by the bank with the bank statement $650 Outstanding checks $3,080
Instructions:
a. Prepare Palmetto's January bank reconciliation.
b. Prepare any necessary journal entries for Palmetto.
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a Bank Reconciliation Statement For the month ended ...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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