The following data were gathered to use in reconciling the bank account of Photo Op. Company: Balance per bank $ 18,100 Balance per company records. 8,420 20 Bank service charges Deposit in transit Note collected by bank with $140 interest Outstanding checks a. What is the adjusted balance on the bank reconciliation? 24,295 X Feedback ►Check My Work 3,100 5,400 7,400 b. Journalize any necessary entries for Photo Op. Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank. 00 000 25 X 30 000 25
The following data were gathered to use in reconciling the bank account of Photo Op. Company: Balance per bank $ 18,100 Balance per company records. 8,420 20 Bank service charges Deposit in transit Note collected by bank with $140 interest Outstanding checks a. What is the adjusted balance on the bank reconciliation? 24,295 X Feedback ►Check My Work 3,100 5,400 7,400 b. Journalize any necessary entries for Photo Op. Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank. 00 000 25 X 30 000 25
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following data were gathered to use in reconciling the bank account of Photo Op. Company:
| Balance per bank | $ 18,100 |
| Balance per company records | 8,420 |
| Bank service charges | 20 |
| Deposit in transit | 3,100 |
| Note collected by bank with $140 interest | 5,400 |
| Outstanding checks | 7,400 |
Question Content Area
a. What is the adjusted balance on the bank reconciliation?
Transcribed Image Text:# Bank Reconciliation
### The following data were gathered to use in reconciling the bank account of Photo Op. Company:
- **Balance per bank:** $18,100
- **Balance per company records:** 8,420
- **Bank service charges:** 20
- **Deposit in transit:** 3,100
- **Note collected by bank with $140 interest:** 5,400
- **Outstanding checks:** 7,400
---
#### a. What is the adjusted balance on the bank reconciliation?
Input given: **$24,295** (marked as incorrect)
---
#### b. Journalize any necessary entries for Photo Op. Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank.
There are input fields provided for journal entries and their amounts. Two amounts labeled "25" are marked as incorrect.
Note: Hover over the "Feedback" and "Check My Work" areas to receive guidance or verify your completion.
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