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Chapter 7-Bank Reconciliation Name The cash account for Axel...

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Accounting

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Chapter 7-Bank Reconciliation Name The cash account for Axel Co. on January sta checks, and the memos indicated a balance of $28,585. The January bank 4S. Comparing the bank statement, the canceled indicated an balance ending bal Panying memos with the records revealed the follo ance of $34,245. a. Checks outstanding totaled $9,775. b. made too late to appear on the bank statement. on a note receivable, of which $150 was interest reven e bank collected $6,150 on a note receivabie 75 A check for $ A c d. Bank service c heck drawn as returned by the bank due to insufficient funds. A check ha rges for January amounted to e. for $2,000 return as $200. The check was originally issued to pay on account. g. or170 had been erroncously charged by the bank as $710 8. returned with the statement had been incorrectly recorded 31. (Use the spreadshet on the p R1: Prepare a bank reconciliation as of January R2: Journalize the necessary entries Journal entries: Debit Credit Account Record the additions to the book section Cash Record the deductions to the book section Cash Page 6 of 10

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