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Prepare palmetto january bank reconciliation

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Reference no: EM13540035

Bank reconciliation and entries. The following information was taken from the accounting records of Palmetto Company for the month of January:

Balance per bank

$6,150

Balance per company records

3,580

Bank service charge for January

20

Deposits in transit

940

Interest on note collected by bank

100

Note collected by bank

1,000

NSF check returned by the bank with the bank statement

650

Outstanding checks

3,080

Instructions:

a. Prepare Palmetto's January bank reconciliation.

b. Prepare any necessary journal entries for Palmetto

Reference no: EM13540035

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