Prepare the bank reconciliation at September 30. (List items that increase cash balance first.) 2.Prepare the adjusting entries at September 30, assuming (1) the NSF check was from a customer on account, and (2) no interest had been accrued on the note. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
The information below relates to the Cash account in the ledger of Swifty Company.
| Balance September 1—$17,220; | Cash deposited—$64,250. | |
| Balance September 30—$18,344; | Checks written—$63,126. |
The September bank statement shows a balance of $17,362 on September 30 and the following memoranda.
|
Credits
|
Debits
|
|||||
|---|---|---|---|---|---|---|
|
Collection of $1,962 note plus interest $38
|
$2,000 |
NSF check: Richard Nance
|
$895 | |||
|
Interest earned on checking account
|
$53 |
Safety deposit box rent
|
$73 |
At September 30, deposits in transit were $4,920, and outstanding checks totaled $2,853.
1. Prepare the bank reconciliation at September 30. (List items that increase cash balance first.)
2.Prepare the
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
