Jane Co. is preparing its September 30, 20x1 bank reconciliation. Relevant information is shown below: Balance per books Balance per bank statement Collection on note by bank (including # 250 interest) NSF check returned by bank Bank service charges for December Deposits in transit Outstanding checks (including certified checks of #100) 1,480 2,800 2,500 500 70 2,200 1,000 • A P600 loan amortization of Jane Co. was erroneously debited by the bank to Tarzan Co.'s account. Jane made the correct entry. • A $650 collection of accounts receivable was erroneously recorded in the books as #560. The actual amount deposited to the bank is $650. The compound entry to reconcile the accounts includes a

Jane Co. is preparing its September 30, 20x1 bank reconciliation. Relevant information is shown below: Balance per books Balance per bank statement Collection on note by bank (including # 250 interest) NSF check returned by bank Bank service charges for December Deposits in transit Outstanding checks (including certified checks of #100) 1,480 2,800 2,500 500 70 2,200 1,000 • A P600 loan amortization of Jane Co. was erroneously debited by the bank to Tarzan Co.'s account. Jane made the correct entry. • A $650 collection of accounts receivable was erroneously recorded in the books as #560. The actual amount deposited to the bank is $650. The compound entry to reconcile the accounts includes a

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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