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, July 31 6,476 Add: Deposit in transit 5,720Single line Single line12,196 Less: Outstanding checks 6,024Single line Adjusted balance, July 31 Single line6,172Double line Balance per ledger, July 31 6,254 Add: Error correction* 98Single line Single line6,352 Less: NSF check 114 180Single line Service and collection charges 66Single line Single line Adjusted balance, July 31 Single line6,172Double line
Prepare the journal entry or entries needed to adjust or correct the Cash account.
Date Description Debit Credit July 31 July 31 July 31 July 31 July 31
Date Description Debit Credit July 31 Cash 98 July 31 Accounts Payable 98 July 31 Accounts Receivable 114 July 31 Bank Fees Expense 66 July 31 Cash 180 Description Amount Balance (ending) 5,049 Subcategory,ADD: Deposits in transit 306Single line Single line5,355 Subcategory,SUBTRACT: Outstanding checks 1,695Single line Adjusted Balance Single line3,660Double line Description Amount Balance (ending) 3,039 Subcategory,ADD: Bank Collections 623 Interest Revenue 13 Subcategory,SUBTRACT: Service Charge 15Single line Adjusted Balance Single line3,660Double line Date Description Debit Credit December 31 December 31 December 31 December 31 December 31 Date Description Debit Credit December 31 Cash 636 December 31 Accounts Receivable 623 December 31 Interest Revenue 13 December 31 Bank Fees Expense 15 December 31 Cash 15