Question
Kornett Company Bank Reconciliation December 31, 20Y8 Cash balance according to bank statement $283000 Add deposit in transit, not recorded by bank $29500 Deduct outstanding
Kornett Company
Bank Reconciliation
December 31, 20Y8
Cash balance according to bank statement $283000
Add deposit in transit, not recorded by bank $29500
Deduct outstanding checks $68540
Adjusted balance $243960
Cash balance according to company's records $245410
Deduct:
Bank service charges $750
Error in recording check $700
$1450
Adjusted balance $243960
Based on the bank reconciliation, journalize the entry or entries to be made by Kornett Company. If an amount box does not require an entry, leave it blank.
Description Debit Credit
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Fundamentals Of Advanced Accounting
Authors: Joe Ben Hoyle
8th Edition
1260575926, 978-1260575927
