Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PLEASE DO THIS TABLE Safety First Security Systems' bank reconciliation follows. View the bank reconciliation report. Included in the bank balance is a collection of

PLEASE DO THIS TABLE

image text in transcribedimage text in transcribed
Safety First Security Systems' bank reconciliation follows. View the bank reconciliation report. Included in the bank balance is a collection of $630 on account from Roger Adams, a Safety First Security Systems customer who pays the bank directly. Journalize the company's transactions that arise from the bank reconciliation. Include an explanation with each entry. Journalize the transactions in the order presented in the bank reconciliation. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Cash 630 Accounts Receivable 630 Collection on account Date Accounts and Explanation Debit Credit Dec 31 CashX Bank Reconciliation Report Safety First Security Systems Bank Reconciliation December 31, 2025 Bank: Balance, December 31, 2025 3, 180 ADD: Deposit in transit 300 3,480 LESS: Outstanding checks 400 400 Adjusted bank balance, December 31, 2025 3,080 Book: Balance, December 31, 2025 $ 2,460 ADD: Bank collection 630 Interest revenue 20 650 3, 110 LESS: Service charge 30 30 Adjusted book balance, December 31, 2025 3,080

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

Horngrens Financial & Managerial Accounting The Financial Chapters

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

4th Edition

0133255573, 978-0133255577

More Books

Students also viewed these Accounting questions

Question

Personal role: This consists of service to family and friends.

Answered: 1 week ago

Question

The role of life: It consists of your own service to yourself.

Answered: 1 week ago