Question
Attempt) The Cash account of Randell Corporation had a balance of $3,460 at October 31, 2021. Included were outstanding checks totaling $1,000 and an
Attempt) The Cash account of Randell Corporation had a balance of $3,460 at October 31, 2021. Included were outstanding checks totaling $1,000 and an October 31 deposit of $200 that did not appear on the bank statement. The bank statement which came from Panorama State Bank, isted an October 31 balance of $5,306. Included in the bank balance was an October 30 collection of $580 on account from a customer who pays the bank directly. The bank statement also showed a $32 service charge, $15 of interest revenue that Randell eamed on its bank balance, and an NSF check for $40. Randell Corporation's bank reconciliation follows Click the icon to view the bank reconciliation report) Read the Man the company's jumal entries for transactions that arise from the bank reconciliation Date each transacpn October 31, 2021, and include an explanation with each entry (Recond debits first, then redts Select the expiation on the la ne of the putnal entry sate)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started