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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text:The bank statement for Unique Fashion had an ending cash balance of $2,200 on April 30, 2022. On this date the cash balance in their general ledger was $3,678. After comparing the bank
statement with the company records, the following information was determined.
The bank returned an NSF cheque in the amount of $350 that Unique Fashion deposited on April 20. The NSF service fee was $9.
A direct deposit received from a customer on April 29 in payment of their accounts totaling $3,780. This has not yet been recorded by the company.
On April 29, the bank deposited $16 for interest earned.
The bank withdrew $35 for bank service charges.
Deposits in transit on April 30 totalled $4,880.
Required
Reconcile the ledger and bank statement and create the required journal entries.
Do not enter dollar signs or commas in the input boxes.
Do not use negative signs.
Select the proper order for the headings of the Bank Reconciliation.
Cash balance per bank statement
Add
Outstanding deposit
Adjusted bank balance
EFT deposit
Cash balance per books
Add
◆
Deduct
+
Interest earned
NSF cheque
NSF service charge
Bank service charge
Adjusted book balance

Transcribed Image Text:Date
2022
Apr 30
Apr 30
Apr 30
Apr 30
Apr 30
Chook
Account Title and Explanation
To record collection of outstanding accounts receivable
To record interest earned
To record NSF Cheque
To record bank charges
To record NSF fee
Debit
Credit
Expert Solution

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