please help me solve this. Franklin Company's bank reconciliation as of August 31...
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Franklin Company's bank reconciliation as of August 31 is shown below. Bank balance + Deposit in transit Outstanding checks Adjusted bank balance $14,237 4,500 3,900 $14,837 Book balance Bank service fees Note collected Adjusted book balance $13,162 - 50 1,725 $14,837 The adjusting journal entries that Clayborn must record as a result of the bank reconciliation include: Multiple Choice Debit Cash $4,500: credit Sales $4,500. Debit Cash $1.725: credit Notes Recelvable $1,725. Debit Cash $50: credit Bank Service Fee Expense $50. Debit Misc. Expense $3,900; credit Cash $3,900. Debit Notes Receivable $1725. credit Cash $1,725
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