Bank Reconciliation

The following data were gathered to use in reconciling the bank account of Crystal Company:

Balance per bank	$28,240
Balance per company records	10,280
Bank service charges	60
Deposit in transit	6,500
Note collected by bank with $530 interest	11,170
Outstanding checks	13,350

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a. What is the adjusted balance on the bank reconciliation?

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a. Set up two columns: one for the company cash account section and the other for the bank balance section. Determine the effect of the data on each column. Recall that when you are finished, the adjusted balances in the bank and company sections of the reconciliation must be equal. If not, an item has been overlooked or treated in error.

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b. Journalize any necessary entries for Crystal Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank.