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Entries for Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: Cash balance according to
Entries for Bank Reconciliation
The following data were accumulated for use in reconciling the bank account of Mathers Co. for July:
- Cash balance according to the company's records at July 31, $23,320.
- Cash balance according to the bank statement at July 31, $24,570.
- Checks outstanding, $4,730.
- Deposit in transit, not recorded by bank, $3,800.
- A check for $590 in payment of an account was erroneously recorded in the check register as $950.
- Bank debit memo for service charges, $40.
Journalize the entries that should be made by the company, part (A) Error and part (B) Service Charge.
Entries for Bank Reconciliation The fo Accounting numeric field hulated for use in reconciling the bank account of Mathers Co. for July: 1. Cash balance according to the company's records at July 31, $23,320. 2. Cash balance according to the bank statement at July 31, $24,570. 3. Checks outstanding, $4,730. 4. Deposit in transit, not recorded by bank, $3,800. 5. A check for $590 in payment of an account was erroneously recorded in the check register as $950. 6. Bank debit memo for service charges, $40. Journalize the entries that should be made by the company, part (A) Error and part (B) Service Charge. a. July 31 Cash 23,320 Cash Short and Over b. July 31Step by Step Solution
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