CANDY'S CLEANING SERVICESBank ReconciliationApril 30, 2020$33,452 Book balanceBank balance$28,934Add:Deduct:Interest$47NSF, customer Bonne412Error Chq #9399146$29,080Outstanding cheques:Deduct:#879$2,600Service Charge40#1001,4004,412Adjusted bank balance$29,040 Adjusted book balance$29,040In comparing the bank reconciliation to the Cash account In the general ledger, you notice a problem. You investigate further andcome up with some additional Informatlon as follows:a. The Cash account in the general ledger showed the followling:CashAcct. No. 101DateExplanationPRDebitCreditBalance2020March 31 Balance28,934৪4,93421,051April 30CR1656,00030CD2163,883b. The error in cheque #93, for Utilitles Expense, resulted from the bank Incorrectly debiting our account for $99; the correct amountentered in the accounting records Is $199.c. The bank statement showed interest expense of $47; there was no other Interest.d. The bank debited our account for cheque #879 written by Candy's Hair Salon.e. Cheque #86 for $14,000 listed as outstanding on last month's bank reconciliation was not returned with the April 30 bankstatement. b. Record the journal entries resulting from the corrected bank reconciliation.View transaction listJournal entry worksheet2 3>Record to April interest expense.Note: Enter debits before credits.DateGeneral JournalDebitCreditApril 30Record entryClear entryView general journal

Bank Reco Statement is reconciliation of bank balance in our…

Answered: uct: SF, customer utstanding c T879

uct: SF, customer utstanding c T879

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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