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, May 31 7,060 Add: Deposit in transit 5,826Single line Single line12,886 Less: Outstanding checks 6,150Single line Adjusted balance, May 31 Single line6,736Double line Balance per ledger, May 31 6,838 Add: Error correction* 204Single line Single line7,042 Less: NSF check 282 306Single line Service and collection charges 24Single line Single line Adjusted balance, May 31 Single line6,736Double line
Prepare the journal entry or entries needed to adjust or correct the Cash account.
Date Description Debit Credit May 31 May 31 May 31 May 31 May 31
Date Description Debit Credit May 31 Cash 204 May 31 Accounts Payable 204 May 31 Accounts Receivable 282 May 31 Bank Fees Expense 24 May 31 Cash 306 Description Amount Balance (ending) 6,032 Subcategory,ADD: Deposits in transit 290Single line Single line6,322 Subcategory,SUBTRACT: Outstanding checks 1,717Single line Adjusted Balance Single line4,605Double line Description Amount Balance (ending) 4,022 Subcategory,ADD: Bank Collections 615 Interest Revenue 5 Subcategory,SUBTRACT: Service Charge 37Single line Adjusted Balance Single line4,605Double line Date Description Debit Credit December 31 December 31 December 31 December 31 December 31 Date Description Debit Credit December 31 Cash 620 December 31 Accounts Receivable 615 December 31 Interest Revenue 5 December 31 Bank Fees Expense 37 December 31 Cash 37