The Cash account of Ranger Corporation had a balance of $ at August Included were outstanding checks totaling $ and an August deposit of $ that did not appear on the bank statement. The bank statement, which came from Circle State Bank, listed an August balance of $ Included in the bank balance was an August collection of $ on account from a customer who pays the bank directly. The bank statement also showed a $ service charge, $ of interest revenue that Ranger earned on its bank balance, and an NSF check for $ Ranger Corporation's bank reconciliation follows.
Click the icon to view the bank reconciliation report.
Read the requirement.
Make the company's journal entries for transactions that arise from the bank reconciliation. Date each transaction August and include an explanation with each entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.
Record the bank collection.
Journal Entry
tableDateAccounts and Explanations,Cash,AugAccounts Receivable
