Try another version of these questions Review the results from preparing Let's Be Safe Security Systems bank reconciliation. Journalize the company’s transactions that arise from the bank reconciliation.
Description Amount Total Balance per bank statement, January 31 8,232 Add: Deposit in transit 5,728Single line Single line13,960 Less: Outstanding checks 6,022Single line Adjusted balance, January 31 Single line7,938Double line Balance per ledger, January 31 8,010 Add: Error correction* 106Single line Single line8,116 Less: NSF check 137 178Single line Service and collection charges 41Single line Single line Adjusted balance, January 31 Single line7,938Double line
Prepare the journal entry or entries needed to adjust or correct the Cash account.
Date Description Debit Credit January 31 January 31 January 31 January 31 January 31
Date Description Debit Credit January 31 Cash 106 January 31 Accounts Payable 106 January 31 Accounts Receivable 137 January 31 Bank Fees Expense 41 January 31 Cash 178 Description Amount Balance (ending) 4,222 Subcategory,ADD: Deposits in transit 314Single line Single line4,536 Subcategory,SUBTRACT: Outstanding checks 1,708Single line Adjusted Balance Single line2,828Double line Description Amount Balance (ending) 2,212 Subcategory,ADD: Bank Collections 627 Interest Revenue 17 Subcategory,SUBTRACT: Service Charge 28Single line Adjusted Balance Single line2,828Double line Date Description Debit Credit December 31 December 31 December 31 December 31 December 31 Date Description Debit Credit December 31 Cash 644 December 31 Accounts Receivable 627 December 31 Interest Revenue 17 December 31 Bank Fees Expense 28 December 31 Cash 28