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The following information is available for the ABC Company for its March 31 bank reconciliation: From the March 31 bank statement: Previous Balance $9,908 Total Checks and Total Deposits and Debits $7,805 Credits $11,905 Current Balance $14,008 Deposits and Credits Daily Balance Checks and Debits Date 03/03 03/11 03/15 03/25 03/29 03/30 Amount 1,210 3,850 170 725 1,350 500 NSF Date Amount 03/02 03/27 03/31 Date 03/01 03/02 295 IN 03/03| 03/11 03/15 03/25 03/27 03/29 03/30 03/31 NSF: A check from a customer, Booker Co. in payment of their account. Amount 9,908 14,248 1,038 9,188 9,018 8,293 15,563 14,213 13,713 14,008 No. 2874 2906 2905 2909 2908 4,340 7,270 IN: Interest earned on the account. Check 2874 was outstanding at the end of last month. From the ABC Company's accounting records: Cash Receipts Deposited Cash Debit 4,340 7,270 2,090 13,700 Cash Payments Check No. Cash Credit 2905 2906 2907 2908 2909 2910 Date March 27 31 170 3,850 460 1,350 725 340 6,895 ashAcct. No. 101 ate bruary 28 Explanation Balance PR Debit Credit Balance 8,698 22,398 31 Total receipts R4 D5 13,700 arch 31 Total pavments 6 895 15. 503

The following information is available for the ABC Company for its March 31 bank reconciliation: From the March 31 bank statement: Previous Balance $9,908 Total Checks and Total Deposits and Debits $7,805 Credits $11,905 Current Balance $14,008 Deposits and Credits Daily Balance Checks and Debits Date 03/03 03/11 03/15 03/25 03/29 03/30 Amount 1,210 3,850 170 725 1,350 500 NSF Date Amount 03/02 03/27 03/31 Date 03/01 03/02 295 IN 03/03| 03/11 03/15 03/25 03/27 03/29 03/30 03/31 NSF: A check from a customer, Booker Co. in payment of their account. Amount 9,908 14,248 1,038 9,188 9,018 8,293 15,563 14,213 13,713 14,008 No. 2874 2906 2905 2909 2908 4,340 7,270 IN: Interest earned on the account. Check 2874 was outstanding at the end of last month. From the ABC Company's accounting records: Cash Receipts Deposited Cash Debit 4,340 7,270 2,090 13,700 Cash Payments Check No. Cash Credit 2905 2906 2907 2908 2909 2910 Date March 27 31 170 3,850 460 1,350 725 340 6,895 ashAcct. No. 101 ate bruary 28 Explanation Balance PR Debit Credit Balance 8,698 22,398 31 Total receipts R4 D5 13,700 arch 31 Total pavments 6 895 15. 503

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 7EB: Using the following information, prepare a bank reconciliation. Bank balance: $4,021 Book balance:...
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The following information is available for the ABC Company for its March 31 bank reconciliation: From the March 31 bank statement: Previous Balance $9,908 Total Checks and Total Deposits and Debits $7,805 Current Balance Credits $11,905 $14,008 Checks and Debits Date 03/03 03/11 03/15 03/25 03/29 03/30 Deposits and Credits Daily Balance Date No. 2874 2906 2905 2909 2908 Amount 1,210 3,850 170 725 1,350 500 NSF Amount 4,340 7,270 Amount 9,908 14,248 1,038 9,188 9,018 8,293 15,563 14,213 Date 03/02 03/01 03/02 03/27 03/31 295 IN 03/03 03/11 03/15 03/25 03/27 03/29 03/30 03/31 NSF: A check from a customer, Booker Co. in payment of their account. 13,713 14,008 IN: Interest earned on the account. Check 2874 was outstanding at the end of last month. From the ABC Company's accounting records: Cash Receipts Deposited Cash Debit 4,340 7,270 2,090 13,700 Cash Payments Check No. Cash Credit 2905 2906 2907 2908 2909 2910 Date March 27 31 170 3,850 460 1,350 725 340 6,895 CashAcct. No. 101 Date Explanation Balance PR Debit Credit Balance February 28 March 8,698 22,398 15,503 31 Total receipts 13,700 6,895 R4 31 Total payments D5 1. Based on the above information, prepare a bank reconciliation for the ABC Company. 2. Prepare the necessary general journal entries to bring cash to the reconciled balance.
Transcribed Image Text:The following information is available for the ABC Company for its March 31 bank reconciliation: From the March 31 bank statement: Previous Balance $9,908 Total Checks and Total Deposits and Debits $7,805 Current Balance Credits $11,905 $14,008 Checks and Debits Date 03/03 03/11 03/15 03/25 03/29 03/30 Deposits and Credits Daily Balance Date No. 2874 2906 2905 2909 2908 Amount 1,210 3,850 170 725 1,350 500 NSF Amount 4,340 7,270 Amount 9,908 14,248 1,038 9,188 9,018 8,293 15,563 14,213 Date 03/02 03/01 03/02 03/27 03/31 295 IN 03/03 03/11 03/15 03/25 03/27 03/29 03/30 03/31 NSF: A check from a customer, Booker Co. in payment of their account. 13,713 14,008 IN: Interest earned on the account. Check 2874 was outstanding at the end of last month. From the ABC Company's accounting records: Cash Receipts Deposited Cash Debit 4,340 7,270 2,090 13,700 Cash Payments Check No. Cash Credit 2905 2906 2907 2908 2909 2910 Date March 27 31 170 3,850 460 1,350 725 340 6,895 CashAcct. No. 101 Date Explanation Balance PR Debit Credit Balance February 28 March 8,698 22,398 15,503 31 Total receipts 13,700 6,895 R4 31 Total payments D5 1. Based on the above information, prepare a bank reconciliation for the ABC Company. 2. Prepare the necessary general journal entries to bring cash to the reconciled balance.
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