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The Cash account in the ledger of XYZ, Inc. shows a balance of $10,456 at December 31, 2013. The December 31, 2013 bank statement shows
The Cash account in the ledger of XYZ, Inc. shows a balance of $10,456 at December 31, 2013. The December 31, 2013 bank statement shows a balance of $10,422. The reconciling items consist of the following: . Bank service charges of $25. . Deposit in transit of $1,329. NSF check from customer L. Diamond in the amount of $134. Error in recording check # 970 for utilities: check was written in the amount of $276 but was recorded in XYZ's accounting records as $726. Checks written by XYZ, Inc. that have not cleared the bank as of December 31, 2013 amounting to $1004. . Required 1. Complete the bank reconciliation belovw ABC, INC. Bank Reconciliation December 31, 2013 Balance per bank statement, December 31, 2013 Adjusted cash balance il Adjusted cash balance 2. Prepare the necessary journal entry for XYZ, Inc. for the reconciliation above. Include a description
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