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Prepare the month-end adjusting entry

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Reference no: EM132833836

Question - ABC Co. is preparing its Sep. 30, 20x1 bank reconciliation. Relevant information is shown below:

Balance per book - 5,313

Balance per bank statement - 6,200

Collection of note receivable by bank (including 155 interest) - 3,565

NSF check returned by bank - 1,860

Bank service charges for Dec. - 62

Deposit transit - 2,418

Outstanding checks (including certified checks of 310) - 3,100

A 1,395 collection of accounts receivable was erroneously recorded in the books as 1,93. The actual amount deposited to the bank is 1,395.

A 930 loan amortization of AVC Co. was erroneously debited by the bank to ABC Co.'s account.

Requirements -

1. Prepare the bank reconciliation.

2. Prepare the month-end adjusting entry.

Reference no: EM132833836

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