EA 11 Using the following information, prepare a bank reconciliation. Bank balance: $6,988 Book...
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Accounting
EA 11
Using the following information, prepare a bank reconciliation.
- Bank balance: $6,988
- Book balance: $6,626
- Deposits in transit: $1,600
- Outstanding checks: $599 and $1,423
- Bank charges: $75
- Bank incorrectly charged the account $75. The bank will correct the error next month.
- Check number 2456 correctly cleared the bank in the amount of $234 but posted in the accounting records as $324. This check was expensed to Utilities Expense.
EA 12.
Prepare the journal entry to reconcile the bank statement for the above information
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