1 answer

Licet @ @ @ @ o Record the bank collection fee. Note: Enter debits before credits....

Question:

licet @ @ @ @ o Record the bank collection fee. Note: Enter debits before credits. General Journal Date Mar 31, 2019 Debit Cr
Journal entry worksheet co Record the check incorrectly charged. Note: Enter debits before credits. General Journal Debit Cre
Journal entry worksheet 1 2 3 4 Record note collected by the bank. Note: Enter debits before credits. General Journal Debit C
$ 70,005 Bank Reconciliation Statement March 31, 2019 Balance on bank statement Additions: E KS Deposit in transit Check inco
Di Stefano Office Supply Company received a bank statement showing a balance of $70,005 as of March 31, 2019. The firms reco
licet @ @ @ @ o Record the bank collection fee. Note: Enter debits before credits. General Journal Date Mar 31, 2019 Debit Credit View general journal Clear entry Record entry
Journal entry worksheet co Record the check incorrectly charged. Note: Enter debits before credits. General Journal Debit Credit Date Mar 31, 2019 Record entry Clear entry View general journal
Journal entry worksheet 1 2 3 4 Record note collected by the bank. Note: Enter debits before credits. General Journal Debit Credit Date Mar 31, 2019 Record entry Clear entry View general journal
$ 70,005 Bank Reconciliation Statement March 31, 2019 Balance on bank statement Additions: E KS Deposit in transit Check incorrectly charged 4,700 348 5,048 75,053 Deductions: Check 3782 Check 3840 S e more $ 2,200 251 Total deductions Adjusted bank balance 2,451 72,602 $ $ 71,487 Balance in books Additions: Noninterest-bearing note collected by bank 7.300 78,787 Deductions: < Prex 4 of 5 !!! .Ne
Di Stefano Office Supply Company received a bank statement showing a balance of $70,005 as of March 31, 2019. The firm's records showed a book balance of $71,487 on March 31. The difference between the two balances was caused by the following items. 1. A debit memorandum for $40, which covers the bank's collection fee for the note (item 6). 2. A deposit in transit of $4,700. 3. A check for $348 issued by another firm that was mistakenly charged to Di Stefano's account. 4. A debit memorandum for an NSF check of $6,145 issued by Wozniak Construction Company, a credit customer. 5. Outstanding checks: Check 3782 for $2,200: Check 3840 for $251. 6. A credit memorandum for a $7,300 noninterest-bearing note receivable that the bank collected for the firm. Prepare a bank reconciliation statement for the firm as of March 31. Prepare the necessary journal entries for March 31, 2019 from the statement

Answers

ans 1
Bank Reconciliation as on March 31
Balance as per bank $70,005
Additions:   Deposit in Transit $4,700
Error made by bank 348
5048
Deductions $75,053
Outstanding ckecks
Check 3782 2200
Check 3840 251 2451
Adjusted Bank Balance $72,602.00
Company's Book
Book balance 71487
Add
Proceeds of note receivable 7300
7300
78787
Deductions
Miscelleneous expenses 40
NSF 6145 6185
Adjusted Book balance 72602
ans 2
Trans Accounts Tilte Dr Cr
31-Mar
a Cash $7,300
Notes Receivable $7,300
b Accounts receivable $6,145
Cash $6,145
c Miscelleneous expenses 40
Cash 40
.

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