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 7,315 Add: Deposit in transit 5,785Single line Single line13,100 Less: Outstanding checks 6,139Single line Adjusted balance, May 31 Single line6,961Double line Balance per ledger, May 31 7,093 Add: Error correction* 163Single line Single line7,256 Less: NSF check 271 295Single line Service and collection charges 24Single line Single line Adjusted balance, May 31 Single line6,961Double 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 163 May 31 Accounts Payable 163 May 31 Accounts Receivable 271 May 31 Bank Fees Expense 24 May 31 Cash 295 Description Amount Balance (ending) 5,171 Subcategory,ADD: Deposits in transit 316Single line Single line5,487 Subcategory,SUBTRACT: Outstanding checks 1,699Single line Adjusted Balance Single line3,788Double line Description Amount Balance (ending) 3,161 Subcategory,ADD: Bank Collections 628 Interest Revenue 18 Subcategory,SUBTRACT: Service Charge 19Single line Adjusted Balance Single line3,788Double line Date Description Debit Credit December 31 December 31 December 31 December 31 December 31 Date Description Debit Credit December 31 Cash 646 December 31 Accounts Receivable 628 December 31 Interest Revenue 18 December 31 Bank Fees Expense 19 December 31 Cash 19