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Please prepare the bank reconciliation based on the following information
Please prepare any related journal entries
Bank Balance, December 31, 2021: $10,288
Book Balance, December 31, 2021: $11,255
Notes:
- The bank statement included a charge (debit memo) of $150 for the monthly bank services
- The bank missed one $50 bill when processing a deposit.
- Outstanding cheques as of December 31, 2021, were $688.00.
- Deposits in transit as of December 31, 2021, were $2,550.
- The bank statement included an NSF charge of $405.00 for a cheque received from a customer.
- A note receivable worth $1,500 was received into the companys bank account on December 31, 2021, from a customer on account that was not yet recorded.
| Plants from Paradise |
| Bank Reconciliation |
| December 31, 2021 |
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Journal Entry Template:
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Answer & Explanation
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