Question
Given the information provided below, prepare (a) a bank reconciliation in proper format and (b) and complete the 5 separate journal entries required for the
Given the information provided below, prepare (a) a bank reconciliation in proper format and (b) and complete the 5 separate journal entries required for the month of September for Dolan Company.
1. Balance per Bank on September 30$24,170
2. Balance per Books on September 30$19,600
3. Total outstanding checks at September 30$4,200
4. Debit memoranda:
a. NSF check from Lee Co.$640
b. Printing company checks$60
c. Payment to bank of $2,900 note owed bank by Dolan plus $200 interest.
5. Credit memorandum: Collection of note receivable for $5,500 plus $560 interest less $60 collection fee.
6. Errors:
a. A check written this month to Nance Co. for office supplies cleared the bank at the correct amount of $680, but was recorded by Dolan at $860.
b. The bank charged a $210 check of Doane Company against Dolan's account this month.
7. Deposit in transit on September 30$1,800.
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