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, October 31 8,008 Add: Deposit in transit 5,871Single line Single line13,879 Less: Outstanding checks 6,250Single line Adjusted balance, October 31 Single line7,629Double line Balance per ledger, October 31 7,786 Add: Error correction* 249Single line Single line8,035 Less: NSF check 334 406Single line Service and collection charges 72Single line Single line Adjusted balance, October 31 Single line7,629Double line
Prepare the journal entry or entries needed to adjust or correct the Cash account.
Date Description Debit Credit October 31 October 31 October 31 October 31 October 31
Date Description Debit Credit October 31 Cash 249 October 31 Accounts Payable 249 October 31 Accounts Receivable 334 October 31 Bank Fees Expense 72 October 31 Cash 406 Description Amount Balance (ending) 4,083 Subcategory,ADD: Deposits in transit 298Single line Single line4,381 Subcategory,SUBTRACT: Outstanding checks 1,707Single line Adjusted Balance Single line2,674Double line Description Amount Balance (ending) 2,073 Subcategory,ADD: Bank Collections 619 Interest Revenue 9 Subcategory,SUBTRACT: Service Charge 27Single line Adjusted Balance Single line2,674Double line Date Description Debit Credit December 31 December 31 December 31 December 31 December 31 Date Description Debit Credit December 31 Cash 628 December 31 Accounts Receivable 619 December 31 Interest Revenue 9 December 31 Bank Fees Expense 27 December 31 Cash 27