Bank Reconciliation The following data were gathered to use in reconciling the bank account of...
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Accounting
Bank Reconciliation The following data were gathered to use in reconciling the bank account of Lays Company: Balance per bank $ 18,100 Balance per company records 8,780 Bank service charges 30 Deposit in transit 3,050 Note collected by bank with $100 interest 5,000 Outstanding checks 7,400 a. What is the adjusted balance on the bank reconciliation? b. Journalize any necessary entries for Lays Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank. II >
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