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Please solve this problem: Exercise 7-6 Rachel Sells is unable to reconcile the bank balance at January 31. Rachel's reconciliation is shown here Cash balance
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Exercise 7-6 Rachel Sells is unable to reconcile the bank balance at January 31. Rachel's reconciliation is shown here Cash balance per bank $3,677.2 Add: NSF check 450 Less: Bank service charge 28 $4,099.2 Adjusted balance per bank $3,975.2 Cash balance per books Less: Deposits in transit 590 Add: outstanding checks 770 4,155.2 Adjusted balance per books (a) What is the proper adjusted cash balance per bank? (Round answers to 2 decimal places, e.g. 52.75.) The proper adjusted cash balance per bank (b) What is the proper adjusted cash balance per books? (Round answers to 2 decimal places, e.g. 52.75.) The proper adjusted cash balance per books (c) Prepare the adjusting journal entries necessary to determine the adjusted cash balance per books. (Round answer titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 31Step by Step Solution
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