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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

Transcribed Image Text:6, 7,
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
Note: Enter debits before credits.
Date
October 31
Bank Reconciliation
October 31
Journal entry worksheet
Cash
$ 6,482
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.
Book balance
Add:
4
Collection of a note
Interest earned
Deduct:
NSF check
Bank service charges
Adjusted book balance
Record the $400 collection of a note receivable by the bank on our behalf.
Saved
General Journal
$ 400
64
Debit
63
61
$ 6,354
Credit
464
6,818
124
$6,694
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