The following information regarding cash for Alpha Company is provided for the month ending March...
60.1K
Verified Solution
Link Copied!
Question
Accounting
The following information regarding cash for Alpha Company is provided for the month ending March 31, 2016:
| Item | Amount |
| Ending Cash per Bank Statement | $22,484 |
| Note collected by bank included interest of $106 | $5,106 |
| Bank Service Charges | $35 |
| Deposits in Transit | $1,776 |
| Outstanding Checks | $4,717 |
| Customer Check returned NSF | $322 |
A review of the bank statement reflected that check #224 recorded in the company check register as $1,725 to settle an accounts payable, was paid by the bank for the amount of $1,275. Use this information to prepare the compound General Journal entry (without explanation) for March 31, 2016, to cause the company books to match the adjusted cash balance based on the completed bank reconciliation. If no entry is required then write "No Entry Required."
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.