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Prepare Journal Entries for Bank Reconciliation Carmen Lui Associates Bank Reconciliation July 31, 20- Bank statement balance, July 31 $3,316.80 Add deposits in transit $300.00
Prepare Journal Entries for Bank Reconciliation Carmen Lui Associates Bank Reconciliation July 31, 20- Bank statement balance, July 31 $3,316.80 Add deposits in transit $300.00 118.00 418.00 $3,734.80 Deduct outstanding checks: No. 296 $424.20 No. 299 22.60 No. 301 39.90 486.70 Adjusted bank balance $3,248.10 Book balance, July 31 $3,700.50 Add error on Check No. 291* 27.60 $3,728.10 Deduct: NSF check S468.00 Bank service charge 12.00 480.00 Adjusted book balance $3,248.10 Bank service charge 12.00 480.00 Adjusted book balance $3,248.10 Accounts Payable was debited in original entry. Based on the bank reconciliation, prepare the journal entries. Page: DATE ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 1 20-- July 31 2 3 To correct error on Check No. 291 3 4 u N 4 5 31 5 7 To record NSF check 000 000 31 9 10 10 11 To record bank service charge 11
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