Journalize the entries required by the reconciliation

Reference no: EM132724819

Question - Wildhorse is unable to reconcile the bank balance at January 31. Wildhorse's reconciliation is as follows.

Cash balance per bank $3,860.20

Add: NSF check 540.00

Less: Bank service charge 31.00

Adjusted balance per bank $4,369.20

Cash balance per books $4,175.20

Less: Deposits in transit 680.00

Add: Outstanding checks 936.00

Adjusted balance per books $4,431.20

Required -

1. Prepare a correct bank reconciliation.

2. Journalize the entries required by the reconciliation.

Reference no: EM132724819

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