Question
Prepare a bank reconciliation and the relevant journal entries for Anderson Company. The following information is available for Anderson Company for the period ending March
Prepare a bank reconciliation and the relevant journal entries for Anderson Company. The following information is available for Anderson Company for the period ending March 31, 2020: Balance per the books is $8335. The balance per the bank is $10035. Interest revenue of $44 was reported on the bank statement. Checks 201 for $1750 and 204 for $900 were not shown on the bank statement. A deposit in transit had not been received by the bank at the time of the bank statement for $2989. An NSF check for $80 written by John Brown was reported on the bank statement, along with a fee of $25 for the bounced check. A credit memo from the bank indicated a note was collected by the bank for $2100.
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