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Post to the genetal ledger. It is a common business practice to reconcile the bank accounts on a monthly basis. However, in this problem, the
Post to the genetal ledger.
It is a common business practice to reconcile the bank accounts on a monthly
basis. However, in this problem, the reconciliation of the company's checking
account will be done at the end of the year, based on an annual summary.
Reconcile the bank account by comparing the following annual summary state
ment from Long Beach National Bank to the Cash account in the general ledger.
Recotd journal entries as needed and post to the general ledger. Use transaction
as the posting reference.
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