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1. At December 31, cash per the bank statement was $15,200; cash per the company's records was $17,000. 2. Two debit memoranda accompanied the bank statement: service charges for December of $25, and a $750 check drawn by a customer, Jane Jones, marked NSF. 3. Cash receipts of $10,000 on December 31 were not deposited until January 4. 4. The following checks had been issued in December but were not included among the paid checks returned by the bank: number 620 for $900, number 630 for $2,400, and number 641 for $5,675. Required: a. Prepare a bank reconciliation at December 31. b. Prepare the necessary journal entry or entries to update the accounting records.

1. At December 31, cash per the bank statement was $15,200; cash per the company's records was $17,000. 2. Two debit memoranda accompanied the bank statement: service charges for December of $25, and a $750 check drawn by a customer, Jane Jones, marked NSF. 3. Cash receipts of $10,000 on December 31 were not deposited until January 4. 4. The following checks had been issued in December but were not included among the paid checks returned by the bank: number 620 for $900, number 630 for $2,400, and number 641 for $5,675. Required: a. Prepare a bank reconciliation at December 31. b. Prepare the necessary journal entry or entries to update the accounting records.

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 1PB
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1. At December 31, cash per the bank statement was $15,200; cash per the company's records was $17,000. 2. Two debit memoranda accompanied the bank statement: service charges for December of $25, and a $750 check drawn by a customer, Jane Jones, marked NSF. 3. Cash receipts of $10,000 on December 31 were not deposited until January 4. 4. The following checks had been issued in December but were not included among the paid checks returned by the bank: number 620 for $900, number 630 for $2,400, and number 641 for $5,675. Required: a. Prepare a bank reconciliation at December 31. b. Prepare the necessary journal entry or entries to update the accounting records. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a bank reconciliation at December 31. WATSON ELECTRIC Balance per bank statement Bank Reconciliation December 31 Check my work
Transcribed Image Text:1. At December 31, cash per the bank statement was $15,200; cash per the company's records was $17,000. 2. Two debit memoranda accompanied the bank statement: service charges for December of $25, and a $750 check drawn by a customer, Jane Jones, marked NSF. 3. Cash receipts of $10,000 on December 31 were not deposited until January 4. 4. The following checks had been issued in December but were not included among the paid checks returned by the bank: number 620 for $900, number 630 for $2,400, and number 641 for $5,675. Required: a. Prepare a bank reconciliation at December 31. b. Prepare the necessary journal entry or entries to update the accounting records. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a bank reconciliation at December 31. WATSON ELECTRIC Balance per bank statement Bank Reconciliation December 31 Check my work
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