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, August 31 7,018 Add: Deposit in transit 5,839Single line Single line12,857 Less: Outstanding checks 6,122Single line Adjusted balance, August 31 Single line6,735Double line Balance per ledger, August 31 6,796 Add: Error correction* 217Single line Single line7,013 Less: NSF check 248 278Single line Service and collection charges 30Single line Single line Adjusted balance, August 31 Single line6,735Double line
Prepare the journal entry or entries needed to adjust or correct the Cash account.
Date Description Debit Credit August 31 August 31 August 31 August 31 August 31
Date Description Debit Credit August 31 Cash 217 August 31 Accounts Payable 217 August 31 Accounts Receivable 248 August 31 Bank Fees Expense 30 August 31 Cash 278 Description Amount Balance (ending) 5,716 Subcategory,ADD: Deposits in transit 334Single line Single line6,050 Subcategory,SUBTRACT: Outstanding checks 1,720Single line Adjusted Balance Single line4,330Double line Description Amount Balance (ending) 3,706 Subcategory,ADD: Bank Collections 637 Interest Revenue 27 Subcategory,SUBTRACT: Service Charge 40Single line Adjusted Balance Single line4,330Double line Date Description Debit Credit December 31 December 31 December 31 December 31 December 31 Date Description Debit Credit December 31 Cash 664 December 31 Accounts Receivable 637 December 31 Interest Revenue 27 December 31 Bank Fees Expense 40 December 31 Cash 40