Adjusting the cash account
As of June 30, 2012, the bank statement showed an ending balance of $13.879.85. The unadjusted Cash account balance was $13.483.75. The following information is available:
1. Deposit in transit. $1,476.30.
2. Credit memo in bank statement for interest earned in June, $35.
3. Outstanding check. $1,843.74.
4. Debit memo for service charge, $6.34.
Required
a. Determine the true cash balance by preparing a bank reconciliation as of June 30, 2012, using the preceding information.
b. Record in general journal format the adjusting entries necessary to correct the unadjusted book balance.
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