Solution-Journalize the entries required by the

Journalize the entries required by the reconciliation

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Reference no: EM132828556

Problem - Blue Company is unable to reconcile the bank balance at January 31. Blue's reconciliation is as follows.

Cash balance per bank $5,300

Add: NSF check 1,490

Less: Bank service charge 25

Adjusted balance per bank $6,765

Cash balance per books $5,905

Less: Deposits in transit 950

Add: Outstanding checks 1,860

Adjusted balance per books $6,815

Required -

1. Prepare a correct bank reconciliation.

2. Journalize the entries required by the reconciliation.

Reference no: EM132828556

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Journalize the entries required by the reconciliation

Reference no: EM132828556

Reference no: EM132828556

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