The bank reconciliation of the Clark Company at March 31, 1979, was as follows: The bank statement,

Question:

The bank reconciliation of the Clark Company at March 31, 1979, was as follows:

image text in transcribed

The bank statement, returned checks, and other documents received from the bank at the end of April provide the following information:

image text in transcribed

The Cash in Bank account of the Clark Company for the month of April shows deposits of \(\$ 16,190\) and checks drawn of \(\$ 17,015\). The credit memo has not as yet been recorded on the books of the company; it represents the collection of a note with \(\$ 800\) face value on which \(\$ 5\) interest had been accrued as of March 31, 1979.
a Prepare a bank reconciliation for the Clark Company at April 30, 1979.
b Present in journal entry form any adjustment of the company's books resulting from the information determined in the bank reconciliation.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting An Introduction To Concepts Methods And Uses

ISBN: 9780030452963

2nd Edition

Authors: Sidney Davidson, Roman L. Weil, Clyde P. Stickney

Question Posted: