FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Bank Reconciliation
The following data were gathered to use in reconciling the bank account of Conway
Company:
Balance per bank
$23,900
Balance per company records
8,700
Bank service charges
50
Deposit in transit
5,500
Note collected by bank with $450 interest
9,450
Outstanding checks
11,300
a. What is the adjusted balance on the bank reconciliation?
2$
b. Journalize any necessary entries for Conway Company based on the bank reconciliation
For a compound transaction, if an amount box does not require an entry, leave it blank.
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Transcribed Image Text:Bank Reconciliation The following data were gathered to use in reconciling the bank account of Conway Company: Balance per bank $23,900 Balance per company records 8,700 Bank service charges 50 Deposit in transit 5,500 Note collected by bank with $450 interest 9,450 Outstanding checks 11,300 a. What is the adjusted balance on the bank reconciliation? 2$ b. Journalize any necessary entries for Conway Company based on the bank reconciliation For a compound transaction, if an amount box does not require an entry, leave it blank.
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