Required information

PA$5-3($Algo$)$ Identifying Outstanding Checks and Deposits in Transit and Preparing a Bank

Reconciliation and Journal Entries $[$LO $5-4,$ LO $5-5]$

$[$The following information applies to the questions displayed below.$]$

The December bank statement and cash T$-$account for Stewart Company follow:

NSF check from J$.$ Left, a customer.

There were no deposits in transit or outstanding checks at November $30.$

PA$5-3($Algo$)$ Part $4$

Prepare any journal entries that the company should make as a result of the bank reconciliation. $($If no entry is required for a

transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

A Record the interest of $$90$ received from the bank.

B Record the service charges of $$230$ deducted by the

bank.

C Record the return of the J$.$ Left check of $$380$ due to

insufficient funds.

D Record the checks outstanding at the end of the month.

E Record the deposits in transit at the end of the month.

Note : $=$ journal entry has been entered