Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please help asap, will thumbs up!! KG Corp.'s October 31 st, 2020 bank statement balance is $35,639.44 and its book balance is $28,010.45. - Cheque
please help asap, will thumbs up!!
KG Corp.'s October 31 st, 2020 bank statement balance is $35,639.44 and its book balance is $28,010.45. - Cheque number 752 and 756 are still outstanding. Cheque 752 was written for $2,400.55 and cheque 756 was written for $3,213.44. - A bank memo states that a long-term note of $5,500 note receivable was collected by the bank, this includes $500 of interest on the note. - Incorrectly recorded the purchase of $450 of inventory as $540. - A customer's check of $500 returned NSF. - Monthly bank service charges totalled $75. - A deposit of $3,000 in cash made on October 31 st does not appear on the bank statement yet 1) What is the adjusted cash balance? 2) Prepare the adjusting entries Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started