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Journalize any necessary entries for reddan company

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Reference no: EM132707791

The following data were gathered to use in reconciling the bank account of Reddan Company:

Balance per bank $17,500

Balance per company records $8,545

Bank service charges $45

Deposit in transit $2,650

Note collected by bank with $120 interest $ 5,400

Outstanding checks $6,250

Instructions:

Question a. What is the adjusted balance on the bank reconciliation?

Question b. Journalize any necessary entries for Reddan Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles.

Reference no: EM132707791

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