ABC Corporation had a genenal ledger balance of $3,999,85 (a) February 28, 2023. The February...
70.2K
Verified Solution
Link Copied!
Question
Accounting
ABC Corporation had a genenal ledger balance of $3,999,85 (a) February 28, 2023. The February bank statement had a balance of $4,150. At month end there was a deposit in transit of $2,890. The bank had collected a note receivable February 15 th of $900 and interest of $36 on the note was also collected. Outstanding cheques amounted to $2,136.05. ABC Company recorded cheque \# 747 as $582.00 but the cheque was writien for $52.80 and went thru the bank as such. The bank statement had service charges of $30.50. A Cheque in the amount o $453.20 was returned NSF A cheque written for $491 was recorded in the G/L as S419. Required: Prepare the bank reconcilliation and corresponding journal entries
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
