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Prepare a bank reconciliation for abc company on january

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Question - Using the following information prepare a bank reconciliation for ABC Company on January 31, 2014 and any required adjusting entries.

The bank service charge for January was $25.

The bank collected a note receivable plus $90 interest for a total of $3,990.

Interest earned on the bank account and not recorded was $45.

Book balance at January 31, 2003 was $20,330.

Deposits in transit totaled $4,000.

Outstanding checks were $4,500.

A check for $400 to a creditor on account that cleared the bank in January was journalized and posted for $420.

A salary check to an employee for $275 was recorded by the bank for $285.

The bank statement showed a balance $24,850.

Reference no: EM132053321

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