Requirement: It is a common business practice to reconcile the bank accounts on a monthly...
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Requirement: It is a common business practice to reconcile the bank accounts on a monthly basis. However, in this problem, the reconciliation of the company's checking account will be done at the end of the year, based on an annual summary. Reconcile the bank account by comparing the following annual summary statement from Myrtle BeachMyrtle Beach National Bank to the Cash account in the general ledger. Record journal entries as needed and post to the general ledger. Use transaction z as the posting reference.
Start by reconciling the bank account by comparing the following annual summary statement from Myrtle BeachMyrtle Beach National Bank to the Cash account in the general ledger. For any outstanding checks, use the appropriate transaction letter/descriptions in lieu of check numbers to identify each outstanding payment.
Bank Reconciliation December 31, 2018 BANK ADD LESS
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