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Bears, Inc. needs to prepare a bank reconciliation. Bears received its December 202 bank statement from First National Bank, and it contained the following information:
Bears, Inc. needs to prepare a bank reconciliation. Bears received its December 202 bank statement from First National Bank, and it contained the following information: Bank statement showed an ending balance of $1,250 including an EFT for receipt of rent of $560 and a service charge of $10. Neither of which was recorded on the books. Bears identified 1 outstanding check (" 1152 ) totaling $250 and a deposit in transit of $1,300. During December, Bears incorrectly record a check for utilities of $270. The correct amount of the check was $720. The cash account for Bears shows a December 31 balance of $2,200. Prepare the bank reconciliation for December 31 and loumalize any required transactions
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