Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Safety First Security Systems' bank reconciliation folows. (Click the icon to view the bank reconciliation report.) Included in the bank balance is a collection of

image text in transcribed

Safety First Security Systems' bank reconciliation folows. (Click the icon to view the bank reconciliation report.) Included in the bank balance is a collection of $680 on account from Roger Adams, a Safety First customer who pays the bank directly. Journalize the company's transactions that arise from the bank reconciliation. Include an explanation with each entry Journalize the transactions in the order presented in the bank reconcliation. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Check your spelling carefully and do not abbreviate.) Date Accounts and Explanation Debit Credit Dec. Safety First Security Systems Bank Reconciliation December 31, 2018 Bank: Balance. December 31. 2018 ADD: Deposit in transit S 3,520 3,920 800 S 3,120 800 LESS: Outstanding checks Adjusted bank balance, December 31, 2018 Book: Balance, December 31, 2018 $ 2,450 ADD:Bank collection 680 10 690 Interest revenue 3,140 LESS: Service charge Choose from any list or enter any number in the input fields and then click Check Answer. Adjusted book balance, December 31, 2018 $ 3,120

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

Measurement And Internal Audit Operations

Authors: Andrew Fight

1st Edition

184112401X, 978-1841124018

More Books

Students also viewed these Accounting questions

Question

What is the relationship between humans and nature?

Answered: 1 week ago