JackJoe, Inc. sells toy mice to high end toy stores. Following are facts you need...
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Accounting
| JackJoe, Inc. sells toy mice to high end toy stores. Following are facts you need to prepare JackJoe's May bank reconciliation (10 points) and related journal entries (10 points): | ||
| Balance per company General Ledger 5/31 | $ 40,000 | |
| Bank service charge for the month | 50 | |
| Bounced (NSF) check returned with bank statement | 1,950 | |
| Note collected by the bank during the month | 50,000 | |
| Outstanding checks at month end | 17,000 | |
| Interest on note collected during the month | 10,000 | |
| Balance per bank at end of month | 105,000 | |
| Deposit in transit at month end | $ 10,000 | |
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