Question
Bank reconciliation The following data were gathered to use in reconciling the bank account of Reddan Company: Line Item Description Amount Balance per bank $
Bank reconciliation
The following data were gathered to use in reconciling the bank account of Reddan Company:
| Line Item Description | Amount |
|---|---|
| Balance per bank | $ 18,750 |
| Balance per company records | 10,165 |
| Bank service charges | 45 |
| Deposit in transit | 3,000 |
| Note collected by bank with $140 interest | 5,350 |
| Outstanding checks | 6,280 |
Question Content Area
a. What is the adjusted balance on the bank reconciliation? fill in the blank 1 of 1$
b. Journalize any necessary entries for McCurdy Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank.
| Account | Debit | Credit | |
|---|---|---|---|
| Miscellaneous Expense | |||
| Cash | |||
| Cash | |||
| Notes Receivable | |||
| Interest Revenue |
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Audit Risk Management Driving Audit Value The Best Practice Strategy Guide For Minimising The Audit Risks And Achieving The Internal Audit Strategies And Objectives Volume 2
Authors: Hans Beumer
1st Edition
3906861155, 978-3906861159
