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Question Content Area Adjusting Entries from a Bank Reconciliation Hawk Enterprises identified the following items on its January reconciliation that may require adjusting entries: A
Question Content Area
Adjusting Entries from a Bank Reconciliation
Hawk Enterprises identified the following items on its January reconciliation that may require adjusting entries:
- A deposit of $735 was recorded in Hawk's accounting records, but not on the January 31 bank statement.
- A check for $5,444 was outstanding at January 31.
- Included with the bank statement was a check for $300 written by Hooper Advertising Services. The bank had, in error, deducted this check from Hawk's account.
- Bank service charges were $250.
- An NSF check written by one of Hawk's customers in the amount of $1,027 was returned by the bank with Hawk's bank statement. This customer was paying for merchandise originally purchased on account.
Required:
For each of these five items, prepare an adjusting entry for Hawk's journal, if any is required. If no entry is required, select "No entry required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.
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