Teng Corporation received a bank statement showing a balance of $14,450 as of October 31, 2019. The firms records showed a book balance of $14,057 on October 31. The difference between the two balances was caused by the following items. A debit memorandum for an NSF check from Richard Wolf for $419.

1. Three outstanding checks: Check 7017 for $119, Check 7098 for $50, and Check 7107 for $1,510.
2. A bank service charge of $15.
3. A deposit in transit of $852.

b.

Prepare the adjusted bank balance section and the adjusted book balance section of the bank reconciliation statement. Prepare the necessary journal entries for the year 2019

1. October 31st - Record the returned check.

2. October 31st- Record the outstanding checks.

3. October 31st-Record the bank service charge.

4. October 31st-Record the deposit in transit.

TENG CORPORATION Bank Reconciliation Statement October 31, 2019 Balance on bank statement Additions Total deductions Adjusted bank balance Balance in books Additions: Deductions Adjusted book balance General Journal >