Business, 15.07.2020 01:01 AshlynPlayz45
McDermott Company's bank statement for September 30 showed an ending cash balance of $1,392. The company's Cash account in its general ledger showed a $1,040 debit balance. The following information was also available as of September 30 .
1. The bank deducted $140 for an NSF check from a customer deposited on September 15 .
2. The September 30 cash receipts, $1,280, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement. .
3. A $18 debit memorandum for checks printed by the bank was included with the canceled checks. .
4. Outstanding checks amounted to $1,190 .
5. Included with the bank statement was a credit memo in the amount of S890 for an EFT in payment of a customer's account .
6. Included with the canceled checks was a check for $290, drawn on the account of another company.
a. Prepare a bank reconciliation as of September 30.
b. Prepare the journal entries for the items on the company’s bank reconciliation as of September 30. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Answers: 1
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McDermott Company's bank statement for September 30 showed an ending cash balance of $1,392. The com...
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