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, January 31 7,488 Add: Deposit in transit 5,676Single line Single line13,164 Less: Outstanding checks 6,122Single line Adjusted balance, January 31 Single line7,042Double line Balance per ledger, January 31 7,266 Add: Error correction* 54Single line Single line7,320 Less: NSF check 217 278Single line Service and collection charges 61Single line Single line Adjusted balance, January 31 Single line7,042Double line
Prepare the journal entry or entries needed to adjust or correct the Cash account.
Date Description Debit Credit January 31 January 31 January 31 January 31 January 31
Date Description Debit Credit January 31 Cash 54 January 31 Accounts Payable 54 January 31 Accounts Receivable 217 January 31 Bank Fees Expense 61 January 31 Cash 278 Description Amount Balance (ending) 4,738 Subcategory,ADD: Deposits in transit 326Single line Single line5,064 Subcategory,SUBTRACT: Outstanding checks 1,695Single line Adjusted Balance Single line3,369Double line Description Amount Balance (ending) 2,728 Subcategory,ADD: Bank Collections 633 Interest Revenue 23 Subcategory,SUBTRACT: Service Charge 15Single line Adjusted Balance Single line3,369Double line Date Description Debit Credit December 31 December 31 December 31 December 31 December 31 Date Description Debit Credit December 31 Cash 656 December 31 Accounts Receivable 633 December 31 Interest Revenue 23 December 31 Bank Fees Expense 15 December 31 Cash 15