A bank reconciliation for October 31 follows. Bank statement balance Add: Deposit in transit Deduct: Outstanding checks Adjusted bank balance View transaction list < 1 2 Bank Reconciliation October 31 Book balance Add: Note: Enter debits before credits. Date October 31 Cash $ 6,482 Journal entry worksheet 3 291 6,773 79 $6,694 Prepare the necessary journal entries based on the bank reconciliation. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Collection of a note Interest earned 4 Deduct: NSF check Bank service charges Adjusted book balance Record the $400 collection of a note receivable by the bank on our behalf. $ 400 64 General Journal Debit 63 61 $ 6,354 Credit 464 6,818 124 $ 6,694

A bank reconciliation for October 31 follows. Bank statement balance Add: Deposit in transit Deduct: Outstanding checks Adjusted bank balance View transaction list < 1 2 Bank Reconciliation October 31 Book balance Add: Note: Enter debits before credits. Date October 31 Cash $ 6,482 Journal entry worksheet 3 291 6,773 79 $6,694 Prepare the necessary journal entries based on the bank reconciliation. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Collection of a note Interest earned 4 Deduct: NSF check Bank service charges Adjusted book balance Record the $400 collection of a note receivable by the bank on our behalf. $ 400 64 General Journal Debit 63 61 $ 6,354 Credit 464 6,818 124 $ 6,694

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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