Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. chapter 7-bank reconciliation name the cash accoun

Chapter 7-Bank Reconciliation Name The cash account for Axel Co. on January sta checks, and...

70.2K

Verified Solution

Question

Accounting

image
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

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students