Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Reconciliation and journal entries. The cash account of Bennett Inc. at February 28, 2017 follows: 600 3,600 15 1,100 500 560 $ 3,250 Cash Feb.

Reconciliation and journal entries. image text in transcribed
image text in transcribed
The cash account of Bennett Inc. at February 28, 2017 follows: 600 3,600 15 1,100 500 560 $ 3,250 Cash Feb. 1 Balance 3,250 Feb. 5 1,200 1,700 22 1,000 28 2,200 Feb. 28 Balance 2,990 Bennett Inc.s bank statement for February 2017 is as follows: Bank Statement for February 2017 Beginning balance Deposits: Feb. 7 $ 1,200 1,700 23 Cheques: Feb. 600 3,600 1,100 Other items: Service charge NSF cheque from customer Bank collection of note receivable * EFT - monthly rent expense Interest on account balance Ending balance $ 1,000 3,900 S 23 (5,300) (10) (200) 500 (320) 12 1,832 including the appropriate heading Prepare the journal entries based on the bank reconciliation . (no need to explain journal entries)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditor Going Concern Reporting A Review Of Global Research And Future Research Opportunities

Authors: Marshall A. Geiger, Anna Gold, Philip Wallage

1st Edition

0367649489, 978-0367649487

More Books

Students also viewed these Accounting questions