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:
The bank statement, returned checks, and other documents received from the bank at the end of April provide the following information:
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.
Step by Step Answer:
Financial Accounting An Introduction To Concepts Methods And Uses
ISBN: 9780030452963
2nd Edition
Authors: Sidney Davidson, Roman L. Weil, Clyde P. Stickney