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The following data were gathered to use in reconciling the bank account of Torres Company: Balance per bank $9,295 Balance per company records 7,975 Bank
The following data were gathered to use in reconciling the bank account of Torres Company:
| Balance per bank | $9,295 |
| Balance per company records | 7,975 |
| Bank service charges | 30 |
| Deposit in transit | 2,295 |
| NSF check | 1,960 |
| Outstanding checks | 5,605 |
| Instructions | |
| A. | What is the adjusted balance on the bank reconciliation? |
| B. | On March 1, journalize any necessary entries for Torres Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles. |
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
9th Edition
125972266X, 9781259722660
