Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Having mistakes, please help. Sunland Wyatt is unable to reconcile the bank balance at January 31. Sunland's reconciliation is as follows. Cash balance per bank

Having mistakes, please help.image text in transcribed

image text in transcribed

image text in transcribed

Sunland Wyatt is unable to reconcile the bank balance at January 31. Sunland's reconciliation is as follows. Cash balance per bank $3,710.71 Add: NSF cheque 480.08 Less: Bank service charge 21.01 Adjusted balance per bank $4,169.78 Cash $4,191.98 Less: Deposits in transit 690.19 Add: Outstanding cheques 710.01 Adjusted balance per books $4,211.80 Cash balance per bank statement 3710.71 Add Deposits in transit 690.19 4400.9 Less Outstanding cheques 710.01 i Adjusted cash balance per bank $ 3690.89 Cash balance per books $ 4191.98 Less Bank service charge $ 21.01 i NSF cheque 480.08 i 501.09 i Adjusted cash balance per books LA 3690.89 Journalize the entries required by the reconciliation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Date Account Titles and Explanation Debit Credit Jan. 31 Accounts Receivable 480.08 Cash 480.08 Bank Charges Expense 21.01

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Sound Investing, Chapter 6 - Valuation Of Assets And Liabilities

Authors: Kate Mooney

1st Edition

0071719288, 9780071719285

More Books

Students also viewed these Accounting questions