Question
Rachel Sells is unable to reconcile the bank balance at January 31. Rachel's reconciliation is shown here. Cash balance per bank$4,557.20Add: NSF check620.00Less: Bank service
Rachel Sells is unable to reconcile the bank balance at January 31. Rachel's reconciliation is shown here.
Cash balance per bank$4,557.20Add: NSF check620.00Less: Bank service charge53.00
Adjusted balance per bank$5,124.20
Cash balance per books$4,855.20Less: Deposits in transit565.00Add: Outstanding checks940.00
Adjusted balance per books$5,230.20
(a) What is the proper adjusted cash balance per bank?(Round answers to 2 decimal places, e.g. 52.75.)
The proper adjusted cash balance per bank$enter the proper adjusted cash balance per bank in dollars rounded to 2 decimal places
(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$enter the proper adjusted cash balance per books in dollars rounded to 2 decimal places
(c) Prepare the adjusting journal entries necessary to determine the adjusted cash balance per books.(Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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