Question
Di Stefano Office Supply Company received a bank statement showing a balance of $67,605 as of March 31, 2019. The firms records showed a book
Di Stefano Office Supply Company received a bank statement showing a balance of $67,605 as of March 31, 2019. The firms records showed a book balance of $69,439 on March 31. The difference between the two balances was caused by the following items.
- A debit memorandum for $42, which covers the banks collection fee for the note (item 6).
- A deposit in transit of $3,300.
- A check for $240 issued by another firm that was mistakenly charged to Di Stefanos account.
- A debit memorandum for an NSF check of $6,095 issued by Wozniak Construction Company, a credit customer.
- Outstanding checks: Check 3782 for $1,800; Check 3840 for $143.
- A credit memorandum for a $5,900 noninterest-bearing note receivable that the bank collected for the firm.
Prepare a bank reconciliation statement for the firm as of March 31. Prepare the necessary journal entries for March 31, 2019 from the
Next I have to prepare a general journal recording the following entries, Whatever does not need to be recorded we must indicate no journal entry required.
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1
Record the bank collection fee.
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2
Record the deposit in transit.
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3
Record the check incorrectly charged.
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4
Record the returned check.
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5
Record the outstanding checks.
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6
Record note collected by the bank.
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