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 7,215 Add: Deposit in transit 5,736Single line Single line12,951 Less: Outstanding checks 6,218Single line Adjusted balance, May 31 Single line6,733Double line Balance per ledger, May 31 6,993 Add: Error correction* 114Single line Single line7,107 Less: NSF check 318 374Single line Service and collection charges 56Single line Single line Adjusted balance, May 31 Single line6,733Double 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 114 May 31 Accounts Payable 114 May 31 Accounts Receivable 318 May 31 Bank Fees Expense 56 May 31 Cash 374 Description Amount Balance (ending) 5,861 Subcategory,ADD: Deposits in transit 320Single line Single line6,181 Subcategory,SUBTRACT: Outstanding checks 1,718Single line Adjusted Balance Single line4,463Double line Description Amount Balance (ending) 3,851 Subcategory,ADD: Bank Collections 630 Interest Revenue 20 Subcategory,SUBTRACT: Service Charge 38Single line Adjusted Balance Single line4,463Double line Date Description Debit Credit December 31 December 31 December 31 December 31 December 31 Date Description Debit Credit December 31 Cash 650 December 31 Accounts Receivable 630 December 31 Interest Revenue 20 December 31 Bank Fees Expense 38 December 31 Cash 38