Question
The following information regarding cash for Alpha Company is provided for the month ending March 31, 2016: Item Amount Ending Cash per Bank Statement $26,000
The following information regarding cash for Alpha Company is provided for the month ending March 31, 2016:
Item
Amount
Ending Cash per Bank Statement
$26,000
Note collected by bank included interest of $125
$6,125
Bank Service Charges
$75
Deposits in Transit
$2,025
OutstandingCheques
$4,550
CustomerChequereturned NSF
$375
A review of the bank statement reflected thatcheque#224 recorded in the companychequeregister as $1,925 to settle an accounts payable, was paid by the bank for the amount of $1,295. Use this information to prepare the compound General Journal entry (without explanation) for March 31, 2016, to cause the company books to match the adjusted cash balance based on the completed bank reconciliation. If no entry is required then write "No EntryRequired."
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