Prepare a Bank Reconciliation as of June 30, 20Y2. If errors in recording deposits or checks are...

Question

Prepare a Bank Reconciliation as of June 30, 20Y2. If errors in recording deposits or checks are discovered,
assume that the errors were made by the company
. Assume all deposits are from cash sales. All checks are written to satisfy Accounts Payable.

Note that the 6/9 deposits for $3,500 and $210 on the Bank Statement are for Notes Receivable and interest earned that was paid directly to the bank and into the company's account.

Prepare the necessary journal entries. Please make one combined journal entry for all of the additions and another combined journal entry for all of the deductions.

ch-7-bank-reconciliation-problem-7a-usrcxmaz.docx

Bhavani · Accepted Answer

Sheet1
	Bank Reconciliations
			Bank Statement Balance						CASH
	Bank Balance		$ 13,624.71		Book Balance		$ 10,145.50		Dr.	Cr.
	 								10145.50				Dr.	Cr.
	ADD:				ADD:				$ 3,500		1)	Cash   	3800.00
	  Deposits in Transit		1,117.74		  Interest Earned		$ 210		210			     Interest Revenue		$ 210
					  Direct Deposits		$ 3,500		$ 90			      Notes receivable		$ 3,500
					  Error in Check:

Prepare a Bank Reconciliation as of June 30, 20Y2. If errors in recording deposits or checks are discovered, assume that the errors were made by the company . Assume all deposits are from cash...

Solution

Answer To This Question Is Available To Download

Related Questions & Answers