Question
The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: 1.Cashbalance according to the company's records at July
The following data were accumulated for use in reconciling the bank account of Mathers Co. for July:
1.Cashbalance according to the company's records at July 31, $24,556.2.Cash balance according to the bank statementat July 31, $31,856.3.Checks outstanding, $13,280.4.Deposit in transit, not recorded by bank, $6,392.5.A check for $48 in payment of an account was erroneously recorded in the check register as $480.6.Bank debit memo for service charges, $20.
Journalize the entry or entries that should be made by the company. Refer to the Chart of Accounts for exact wording of account titles.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started