Chapter 7 QUIZ

Using the following information, prepare a bank reconciliation, in the proper format, on proper accounting paper, for the Teal Company for November 30 of the current year. a) The bank statement balance is $3,016. b) The cash account balance is $3,160. c) Outstanding checks amounted to $590. d) Deposits in transit are $700. e) The bank service charge is $25. f) A check for $76 for supplies was recorded as $67 in the ledger.

Journal Entry needed, please!