90.2K

Verified Solution

Link Copied!

2 26 165 Cash Manag Modern computer software has made the process of bank easier. What used to be a manual process using a pencil to adding machine to prove the final balance has been replaced wi downloaded from the bank. Smaller medical offices will use cor for cash management that allow bank reconciliation through a si responding to prompts in the program. re SE 1 At the statement date, the bank shows a balance in the facility's operating checking account of $10,000. On that same statement date, the facility's accounting records have a cash balance in the operating account of $10,525 and has recorded a deposit of $1,000 that the bank does not show. Also, the facility has issued three checks, in the amounts of $100, $200, and $300, that the bank does not show as cleared. For that month, the bank has credited interest to the account in the amount of $25 and has charged bank service fees of $50. Credit card service fees for the month total $100. All payments from third-party payers on the bank statement agree to the facility's accounting records. Prepare the journal entry to record interest and charges, and complete the bank reconciliation to determine the adjusted cash balance per the facility's accounting records. A blank bank reconciliation form for your use is on the following page. JOURNAL ENTRY ACCOUNT NUMBER DESCRIPTION DEBIT CREDIT

Answer & Explanation Solved by verified expert

See Answer