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adjusting journal entries Section: Prepare the bank reconciliation for Large Company and complete the adjusting journal entries after the reconciliation is done for August 31,

adjusting journal entries

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Section: Prepare the bank reconciliation for Large Company and complete the adjusting journal entries after the reconciliation is done for August 31, 2019 using the following information: 70 marks + 30 marks - The balance on August 31, 2019 bank statement is $42,204. . The balance per books on August 31, 2019 is $ 41,699. - Deposits in transit as of August 31, 2019 are of $1,460. - Outstanding cheques as of August 31, 2019 are of $1,845. - The accountant mistakenly recorded a $150 cash payment as $420. - The bank mistakenly deposited $495 into Large Company account. The bank statement indicated bank service charges of $35 for August. - Large Company pays its insurance of $460 by EFT each month. - Bank charged $150 for an NSF cheque

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