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 6,515 Add: Deposit in transit 5,674Single line Single line12,189 Less: Outstanding checks 6,057Single line Adjusted balance, May 31 Single line6,132Double line Balance per ledger, May 31 6,293 Add: Error correction* 52Single line Single line6,345 Less: NSF check 140 213Single line Service and collection charges 73Single line Single line Adjusted balance, May 31 Single line6,132Double 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 52 May 31 Accounts Payable 52 May 31 Accounts Receivable 140 May 31 Bank Fees Expense 73 May 31 Cash 213 Description Amount Balance (ending) 4,661 Subcategory,ADD: Deposits in transit 306Single line Single line4,967 Subcategory,SUBTRACT: Outstanding checks 1,704Single line Adjusted Balance Single line3,263Double line Description Amount Balance (ending) 2,651 Subcategory,ADD: Bank Collections 623 Interest Revenue 13 Subcategory,SUBTRACT: Service Charge 24Single line Adjusted Balance Single line3,263Double 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 24 December 31 Cash 24