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Using the following information, prepare a bank reconciliation. Bank balance: $4,021 Book balance: $2,928 Deposits in transit: $1,111 Outstanding checks: $679 Bank charges: $35 Notes receivable: $1,325; interest: $235 Prepare the journal entry to reconcile the bank statement.

Using the following information, prepare a bank reconciliation. Bank balance: $4,021 Book balance: $2,928 Deposits in transit: $1,111 Outstanding checks: $679 Bank charges: $35 Notes receivable: $1,325; interest: $235 Prepare the journal entry to reconcile the bank statement.

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 7EA: Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance:...
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Using the following information, prepare a bank reconciliation.

  • Bank balance: $4,021
  • Book balance: $2,928
  • Deposits in transit: $1,111
  • Outstanding checks: $679
  • Bank charges: $35
  • Notes receivable: $1,325; interest: $235

Prepare the journal entry to reconcile the bank statement.

***** I just need the answer to the journal entry ONLY please!

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