Use the following bank statement and T-account to prepare any journal entries needed as a result of the May 31 bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) BANK STATEMENT Date May 1 Checks Deposits Other Balance $ 260 May 4 #2 $ 25 $ 65 300 May 12 #4 115 NSF check $ 65 120 May 28 #5 35 85 May 30 #6 30 260 315 May 31 #8 70 Service charge 20 225 Cash (A) Debit Credit May 1 260 May 3 65 25 May 3 #2 85 May 4 #3 115 May 8 #4 35 May 11 #5 30 May 21 #6 May 29 260 40 May 29 #7 May 30 180 70 May 30 #8 May 31 365
Use the following bank statement and T-account to prepare any journal entries needed as a result of the May 31 bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) BANK STATEMENT Date May 1 Checks Deposits Other Balance $ 260 May 4 #2 $ 25 $ 65 300 May 12 #4 115 NSF check $ 65 120 May 28 #5 35 85 May 30 #6 30 260 315 May 31 #8 70 Service charge 20 225 Cash (A) Debit Credit May 1 260 May 3 65 25 May 3 #2 85 May 4 #3 115 May 8 #4 35 May 11 #5 30 May 21 #6 May 29 260 40 May 29 #7 May 30 180 70 May 30 #8 May 31 365
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 9EA: Using the following information, prepare a bank reconciliation. Bank balance: $4,587 Book balance:...
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