October 31, 2015, Damon CompanyAc??cs
general ledger shows a checking account balance of $8,445. The
companyAc??cs cash receipts for the month total $74,640, of which
$71,375 has been deposited in the bank. In addition, the company
has written checks for $72,515, of which $71,270 has been processed
by the bank.
bank statement reveals an ending balance of $12,895 and includes
the following items not yet recorded by Damon: bank service fees of
$310, note receivable collected by bank of $6,600, and interest
earned on the account balance plus from the note of $1,120. After
closer inspection, Damon realizes that the bank incorrectly charged
the companyAc??cs account $940 for an automatic withdrawal that should
have been charged to another customerAc??cs account. The bank agrees to
Prepare a bank reconciliation to
calculate the correct ending balance of cash on October
2 - Record the necessary entries to
adjust the balance for cash. (If no entry is required for a
transaction/event, select "No journal entry required" in the first
Journal Entry Worksheet
- Record the entries that increase cash.
*Enter debits before credit
- Record the entries that decrease cash.
*Enter debits before credits
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