Question

9 Main Menu S4-11 (book/static) Assignments The Cash account of Reese Corporation had a balance of $3.540 at October 31, 2018. Included were outstanding checks totaling $1,800 and an October 31 deposit of $300 that did not appear on the bank statement. The bank statement, which came from Turnstone State Bank, listed an October 31 balance of $5,570. Included in the bank balance was an October 30 collection of $600 on account from a customer who pays the bank directly. The bank statement also showed a $30 service charge, $10 of interest revenue that Reese samned on its bank balance, and an NSF check for $50. Reese Corporation's bank reconciliation follows Click the icon to view the bank roconciation report.) Do Homework Take a Quiz/Test Read the requirement Make the company's journal entries for transactions that arise from the bank reconciation Date each transaction October 31, 2018, and include an explanation with cach ertry. (Record debits first, then credits, Solect the explanation on the last line of the journal entry face Record the bark collection Journal Entry Date Accounts and Explanations Debit Credit Choose from any stor enter any number in the input fields and then click Check Answer Check Answer 3 cm 2/8/2020 Type here to search 8 9 'o alwERT ulio

Answer 1

In the books of Reese Corporation :

Date	Accounts and Explanation	Debit	Credit
2018		$	$
Oct 31	Cash	600
	Accounts Receivable		600
	To record direct deposit by customer into bank
Oct 31	Bank Service Charge Expense	30
	Cash		30
	To record bank service charges
Oct 31	Cash	10
	Interest Revenue		10
	To record interest earned on bank deposit
Oct 31	Accounts Receivable	50
	Cash		50
	To record customer's NSF check