The following data were gathered to use in reconciling the bank account of Torres Company: Balance per bank $12,175 Balance per company records Bank service charges 9,480 50 Deposit in transit 1,800 NSF check 1,250 Outstanding checks 5,795 a. What is the adjusted balance on the bank reconciliation? b. Journalize any necessary entries for Torres Company based on the bank reconciliation.
The following data were gathered to use in reconciling the bank account of Torres Company: Balance per bank $12,175 Balance per company records Bank service charges 9,480 50 Deposit in transit 1,800 NSF check 1,250 Outstanding checks 5,795 a. What is the adjusted balance on the bank reconciliation? b. Journalize any necessary entries for Torres Company based on the bank reconciliation.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:The following data were gathered to use in reconciling the bank account of Torres Company:
Balance per bank
$12,175
Balance per company records
Bank service charges
9,480
50
Deposit in transit
1,800
NSF check
1,250
Outstanding checks
5,795
a. What is the adjusted balance on the bank reconciliation?
b. Journalize any necessary entries for Torres Company based on the bank reconciliation.
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