Question

The following information is given for The Market Place on September 30, 19X4. $14,630 10,921 2,160 Cash book balance Cash ba
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Answer #1

The Market Place

Bank Reconciliation

September 30

Bank statement balance

10,921

Book balance

14,630

Add:

Add:

Deposit in transit

6,345

Interest revenue earned

54

Bank collection of receivables

825

Correction of book error 36

Less:

Less:

Outstanding check

-2,160

Bank service charge

-38

NSF Check -401

Adjusted bank balance

$15,106

Adjusted book balance

$15,106

Date

Account Titles and Explanation

Debit

Credit

September 30

Cash

$825

Note receivable

$750

Interest revenue

$75

( To record note receivable)

September 30

Cash

$54

Interest revenue

$54

( To record interest earned)

September 30

Accounts receivable

$401

Cash

$401

( To record NSF check)

September 30 Bank Service charge $38
Cash $38
( To record bank service charge)
September 30 Cash $36
Sales $36
( To record cash sales book error)

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