Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Buffalo Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records. Buffalo Lansbury Company deposits
Buffalo Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records.
Buffalo Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records. June 30 Bank Reconciliationn Balance per bank Add: Deposits in transit Deduct: Outstanding checks Balance per books $8,400 1,848 (2,400) $7,848 Month of July Results Balance July 31 July deposits July checks July note collected (not included in July deposits) July bank service charge July NSF check from a customer, returned by the bank (recorded by bank as a charge) Per Bank $10,380 6,000 4,800 1,200 18 402 Per Books $11,100 6,972 3,720 Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance BUFFALO LANSBURY COMPANY Bank Reconciliation July 31 The parts of this question must be completed in order. This part will be available when you complete the part aboveStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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