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The following data were gathered to use in reconciling the bank account of Torres Company: Balance per bank $9,475 Balance per company records 8,630 Bank
The following data were gathered to use in reconciling the bank account of Torres Company:
| Balance per bank | $9,475 |
| Balance per company records | 8,630 |
| Bank service charges | 25 |
| Deposit in transit | 2,560 |
| NSF check | 1,860 |
| Outstanding checks | 5,290 |
| 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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