Entries for Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: 1. Cash balance according to the company's records at July 31, $32,110. 2. Cash balance according to the bank statement at July 31, $31,350. 3. Checks outstanding, $2,870. 4. Deposit in transit, not recorded by bank, $4,150. 5. A check for $170 in payment of an account was erroneously recorded in the check register as $710. 6. Bank debit memo for service charges, $20. Journalize the entries that should be made by the company, part (A) Error and part (B) Service Charge a. July 31 Cash Accounts Payable b. July 31 Miscellaneous Expense Cash v

Entries for Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: 1. Cash balance according to the company's records at July 31, $32,110. 2. Cash balance according to the bank statement at July 31, $31,350. 3. Checks outstanding, $2,870. 4. Deposit in transit, not recorded by bank, $4,150. 5. A check for $170 in payment of an account was erroneously recorded in the check register as $710. 6. Bank debit memo for service charges, $20. Journalize the entries that should be made by the company, part (A) Error and part (B) Service Charge a. July 31 Cash Accounts Payable b. July 31 Miscellaneous Expense Cash v

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter5: Cash Control Systems

Section: Chapter Questions

Problem 2AP

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