journalize any necessary entries for photo op based on bank recon The table below provides a comparison of figures related to a company's bank reconciliation process:- **Balance per bank**: $14,500- **Balance per company records**: $13,875- **Bank service charges**: $75- **Deposit in transit**: $3,750- **NSF (Non-sufficient funds) check**: $800- **Outstanding checks**: $5,250This information is utilized to reconcile discrepancies between the bank's records and the company's financial records, ensuring accuracy in financial reporting.

The journal entries are prepared to record the transactions on regular basis. The bank…

Answered: Balance per bank Balance per company…

Balance per bank Balance per company records Bank service charges Deposit in transit NSF check Outstanding checks $14,500 13,875 75 3,750 800 5,250

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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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

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journalize any necessary entries for photo op based on bank recon

The table below provides a comparison of figures related to a company's bank reconciliation process:

- **Balance per bank**: $14,500
- **Balance per company records**: $13,875
- **Bank service charges**: $75
- **Deposit in transit**: $3,750
- **NSF (Non-sufficient funds) check**: $800
- **Outstanding checks**: $5,250

This information is utilized to reconcile discrepancies between the bank's records and the company's financial records, ensuring accuracy in financial reporting.

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