Business
AccountingCorporate Financial AccountingBank reconciliation The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per bank $25,750 Balance per company records 19,140 Bank service charges 45 Deposit in transit 2,300 Note collected by bank with $200 interest 5,200 Outstanding checks 3,755 a. What is the adjusted balance on the hank reconciliation? b. Journalize any necessary entries for Reddan Company based on the bank reconciliation.
Bank reconciliation The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per bank $25,750 Balance per company records 19,140 Bank service charges 45 Deposit in transit 2,300 Note collected by bank with $200 interest 5,200 Outstanding checks 3,755 a. What is the adjusted balance on the hank reconciliation? b. Journalize any necessary entries for Reddan Company based on the bank reconciliation.
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Corporate Financial Accounting
15th Edition
Carl Warren + 1 other
Publisher: Cengage Learning
ISBN: 9781337398169
BuyFindarrow_forward
Corporate Financial Accounting
15th Edition
Carl Warren + 1 other
Publisher: Cengage Learning
ISBN: 9781337398169
Solutions
Chapter
Section
Chapter 7, Problem 7.3BE
Textbook Problem
Bank reconciliation
The following data were gathered to use in reconciling the bank account of Reddan Company:
| Balance per bank | $25,750 |
| Balance per company records | 19,140 |
| Bank service charges | 45 |
| Deposit in transit | 2,300 |
| Note collected by bank with $200 interest | 5,200 |
| Outstanding checks | 3,755 |
a. What is the adjusted balance on the hank reconciliation?
b. Journalize any necessary entries for Reddan Company based on the bank reconciliation.
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Expert Solution
Chapter 7 Solutions
Corporate Financial Accounting
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