It is the end of the month, and you cannot get the reconciliation difference to come to $0. Below is a screenshot of the reconciliation and the bank statement. What is the reason for the error?Teacher Feedback: Look at this again to find the error. Was the information from the bank statement properly entered into the QBO reconciliation? QBO Test Drive Company Bank StatementStatement Date: June 30, 20x1Charges Balance$5,000.00$ 300.00 $ 4,700.00$ 4,875.00$250.00 $ 4,625.00$ 54.55 $4,570.45$ 38.50 $ 4531.95CreditsBeginning Balance, June 15-May Check -10 - Robertson & Associates11-May Deposit27-May Check 12 - Robertson & Associates16-Jun Check 4 - Chin's Gas and Oil23-Jun Sales Tax Payment$175.00Ending Balances, June 30$4,531.95 ReconcileCheckingEdit infoSave for laterStatement ending date:$4,231.95$4,531.95O $-300.00STATEMENT ENDING BALANCECLEARED BALANCEDIFFERENCE$643.05$5,000.00BEGINNING BALANCE$175.001 DEPOSIT+4 PAYMENTSShow me aroundX Statement ending date Clear filter / View allPaymentsDepositsAllDATECLEARED DATETYPEREF NO.ACCOUNTPAYEEMEMOPAYMENT (US DEPOSIT (USE5320x1Bill Paym.10Accounts Payabl.. Robertson & .300.005/1120x1Receive P.1053Accounts Receiv.Bill's Windsur..175.005320x1ЕxpenseLegal & Professi..Robertson &.250.001261720x1CheckAutomobile:FuelChin's Gas a..54.5562320x1Sales Tax.- Split -Q1 Payment38.5062320x1Sales Tax.- SplitQ1 Payment38.4062620x1ExpenseJob Expenses.Tania's Nursery989.09626201Check12Legal & Professi.Books by Bes...55.00

In the banking scenario, the account and mirror account having the opposite sign The process of…

Answered: t. What is the reason for the error?…

t. What is the reason for the error? Teacher Feedback: Look at this again to find the error. Was the information from the bank statement properly entered into the QBO reconciliation?

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter22: Master Budget (master)

Section: Chapter Questions

Problem 2R: Open the file MASTER from the website for this book at cengagebrain.com. Enter all the formulas...

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O Mail - Edjouline X E Content - ACG2 X * CengageNOW. X O (58) YouTube * from Towards a X m/ilm/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inpro. Q < ☆ STIOW Me TOW Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $410,000; Allowance for Doubtful Accounts has a credit balance of $3,500; and sales for the year total $1,850,000. Bad debt expense is estimated at 3/4 of 1% of sales. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Adjusted Balance Debit (Credit) Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense c. Determine the net realizable value of accounts receivable. Check My Work Previous Next V O 11:51
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Chap 11. Q.3
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Chap 11