The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per bank $ 18,550 Balance per company records 9,610 Bank service charges 40 Deposit in transit 3,350 5,000 7,330 Note collected by bank with $100 interest Outstanding checks a. What is the adjusted balance on the bank reconciliation? Feedback Check My Work a. Set up two sections: one for the company cash account section and the other for the bank balance section. Determine the effect of the data on each section. Recall that when you are finished, the adjusted balances in the bank and company sections of the reconciliation must be equal. If not, an item has been overlooked or treated in error. b. Journalize any necessary entries for Bradford Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank. Miscellaneous Expense Cash V ✔ Notes Receivable Interest Revenue ✓ 5,000 ✓ 00 000

The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per bank $ 18,550 Balance per company records 9,610 Bank service charges 40 Deposit in transit 3,350 5,000 7,330 Note collected by bank with $100 interest Outstanding checks a. What is the adjusted balance on the bank reconciliation? Feedback Check My Work a. Set up two sections: one for the company cash account section and the other for the bank balance section. Determine the effect of the data on each section. Recall that when you are finished, the adjusted balances in the bank and company sections of the reconciliation must be equal. If not, an item has been overlooked or treated in error. b. Journalize any necessary entries for Bradford Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank. Miscellaneous Expense Cash V ✔ Notes Receivable Interest Revenue ✓ 5,000 ✓ 00 000

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter7: Accounting For Cash

Section: Chapter Questions

Problem 2CE

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