Balance per bank $12,175 Balance per company records 9,480 Bank service charges 50 Deposit in transit 1,800 NSF check 1,250 Outstanding checks 5,795     Instructions A. What is the adjusted balance on the bank reconciliation? B. On March 1, journalize any necessary entries for Torres Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Problem 1Q
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Balance per bank $12,175
Balance per company records 9,480
Bank service charges 50
Deposit in transit 1,800
NSF check 1,250
Outstanding checks 5,795
 
  Instructions
A. What is the adjusted balance on the bank reconciliation?
B. On March 1, journalize any necessary entries for Torres Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles.
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