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The following data were gathered to use in reconciling the bank account of Bradford Company: Balance per bank $ 17,050 Balance per company records 7,295
The following data were gathered to use in reconciling the bank account of Bradford Company:
Balance per bank | $ 17,050 |
Balance per company records | 7,295 |
Bank service charges | 45 |
Deposit in transit | 2,750 |
Note collected by bank with $110 interest | 5,050 |
Outstanding checks | 7,500 |
a. What is the adjusted balance on the bank reconciliation?
b. Journalize any necessary entries for Bradford Company based on the bank reconciliation. For a compound transaction, if an amount box does not require an entry, leave it blank.
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