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The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per bank $17,800 Balance per company records 9,075 Bank
The following data were gathered to use in reconciling the bank account of Reddan Company:
Balance per bank | $17,800 |
Balance per company records | 9,075 |
Bank service charges | 25 |
Deposit in transit | 2,900 |
Note collected by bank with $200 interest | 4,900 |
Outstanding checks | 6,750 |
Instructions | |
a. | What is the adjusted balance on the bank reconciliation? |
b. | Journalize any necessary entries for Reddan Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles. |
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