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Jackman Company's general ledger shows a cash account balance of $23,400 on July 31, 2024. Cash sales of $1,893 for the last three days of the month have not yet been deposited. The bank statement dated July 31 shows bank service fees of $37 and an NSF check from a customer of $420. The bank processes all checks written by the company by July 31 and lists them on the bank statement. except for one check totaling $1,620. The bank statement shows a balance of $22,670 on July 31. Required: 1. Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. 2. Record the necessary entry(ies) to adjust the balance for cash. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) Bank's Cash Balance Per bank statement Bank balance per reconciliation JACKMAN COMPANY Bank Reconciliation July 31, 2024 Company's Cash Balance Per general ledger Company balance per reconciliation Required 2 >

Jackman Company's general ledger shows a cash account balance of $23,400 on July 31, 2024. Cash sales of $1,893 for the last three days of the month have not yet been deposited. The bank statement dated July 31 shows bank service fees of $37 and an NSF check from a customer of $420. The bank processes all checks written by the company by July 31 and lists them on the bank statement. except for one check totaling $1,620. The bank statement shows a balance of $22,670 on July 31. Required: 1. Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. 2. Record the necessary entry(ies) to adjust the balance for cash. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) Bank's Cash Balance Per bank statement Bank balance per reconciliation JACKMAN COMPANY Bank Reconciliation July 31, 2024 Company's Cash Balance Per general ledger Company balance per reconciliation Required 2 >

FINANCIAL ACCOUNTING
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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Jackman Company's general ledger shows a cash account balance of $23,400 on July 31, 2024. Cash sales of $1,893 for the last three days of the month have not yet been deposited. The bank statement dated July 31 shows bank service fees of $37 and an NSF check from a customer of $420. The bank processes all checks written by the company by July 31 and lists them on the bank statement. except for one check totaling $1,620. The bank statement shows a balance of $22,670 on July 31. Required: 1. Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. 2. Record the necessary entry(ies) to adjust the balance for cash. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) Bank's Cash Balance Per bank statement Bank balance per reconciliation JACKMAN COMPANY Bank Reconciliation July 31, 2024 Company's Cash Balance Per general ledger Company balance per reconciliation Required 2 >
Transcribed Image Text:Jackman Company's general ledger shows a cash account balance of $23,400 on July 31, 2024. Cash sales of $1,893 for the last three days of the month have not yet been deposited. The bank statement dated July 31 shows bank service fees of $37 and an NSF check from a customer of $420. The bank processes all checks written by the company by July 31 and lists them on the bank statement. except for one check totaling $1,620. The bank statement shows a balance of $22,670 on July 31. Required: 1. Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. 2. Record the necessary entry(ies) to adjust the balance for cash. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) Bank's Cash Balance Per bank statement Bank balance per reconciliation JACKMAN COMPANY Bank Reconciliation July 31, 2024 Company's Cash Balance Per general ledger Company balance per reconciliation Required 2 >
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