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The Cash account of Ranger Corporation had a balance of $3,450 at October 31, 2021. Included were outstanding checks totaling $1,600 and an October 31
The Cash account of Ranger Corporation had a balance of $3,450 at October 31, 2021. Included were outstanding checks totaling $1,600 and an October 31 deposit of $300 that did not appear o the bank statement. The bank statement, which came from Parway State Bank, listed an October 31 balance of $5,212. Included in the bank balance was an October 30 collection of $515 on account from a customer who pays the bank directly. The bank statement also showed a $24 service charge, $16 of interest revenue that Ranger earned on its bank balance, and an NSF check fo $45. Ranger Corporation's bank reconciliation follows. (Click the icon to view the bank reconciliation report.) Read the requirement. Make the company's journal entries for transactions that arise from the bank reconciliation. Date each transaction October 31, 2021, and include an explanation with each entry. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Record the bank collection. Date 2021 Oct 31 Journal Entry Accounts and Explanations Debit Credit A
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