Review your results from preparing Guard Dog Security Systems's bank reconciliation in Short Exercise S7-9. Journalize the
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In Short Exercise S7-9
The Cash account of Guard Dog Security Systems reported a balance of $2,540 at December 31, 2018. There were outstanding checks totaling $400 and a December 31 deposit in transit of $100. The bank statement, which came from Park Cities Bank, listed the December 31 balance of $3,340. Included in the bank balance was a collection of $510 on account from Brendan Ballou, a Guard Dog customer who pays the bank directly. The bank statement also shows a $30 service charge and $20 of interest revenue that Guard Dog earned on its bank balance.
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Related Book For
Financial And Managerial Accounting
ISBN: 9780135080191
2nd Edition
Authors: Charles T Horngren, Jr Walter T Harrison
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