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Will upvote if answers are correct and complete. Entries for Bank Reconciliation The following data were accumulated for use in reconciling the bank account of
Will upvote if answers are correct and complete.
Entries for Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Mathers Co. for July 1. Cash balance according to the company's records at July 31, $25,140. 2. Cash balance according to the bank statement at July 31, $26,470. 3. Checks outstanding, $5,100. 4. Deposit in transit, not recorded by bank, $4,100. 5. A check for $590 in payment of an account was erroneously recorded in the check register as $950. 6. Bank debit memo for service charges, $30. Journalize the entries that should be made by the company, part (A) Error and part (B) Service Charge. a July 31 b. July 31 Accounts Receivable Feedba Ched Cash Cash Short and Over Miscellaneous Expense Service Revenue Keep error Journalize any adjusting items in the company section of the bank reconciliation, because these have y section, the journal adjustment would increase Cash Step by Step Solution
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