The cash balance per books for Feagen Company on September 30, 2010 is $10,740.93. The following checks and receipts were recorded for the month of October, 2010:
In addition, the bank statement for the month of October is presented below:
Check No. 18 was correctly written for $708.62 for a payment on account. The NSF check was from S. Long, a customer, in settlement of an accounts receivable. An entry had not been made for the NSF check. The credit memo is for the collection of a note receivable including interest of $60 which has not been accrued. The bank service charge is $25.00.
Instructions
(a) Prepare a bank reconciliation at October 31.
(b) Prepare the adjusting journal entries required by the bank reconciliation.

Question

The cash balance per books for Feagen Company on September 30, 2010 is $10,740.93. The following checks and receipts were recorded for the month of October, 2010:
In addition, the bank statement for the month of October is presented below:  
Check No. 18 was correctly written for $708.62 for a payment on account. The NSF check was from S. Long, a customer, in settlement of an accounts receivable. An entry had not been made for the NSF check. The credit memo is for the collection of a note receivable including interest of $60 which has not been accrued. The bank service charge is $25.00.
Instructions
(a) Prepare a bank reconciliation at October 31.
(b) Prepare the adjusting journal entries required by the bank reconciliation.

Quizplus · Accepted Answer

The Answer of The cash balance per books for Feagen Company on September 30, 2010 is $10,740.93. The following checks and receipts were recorded for the month of October, 2010:
In addition, the bank statement for the month of October is presented below:  
Check No. 18 was correctly written for $708.62 for a payment on account. The NSF check was from S. Long, a customer, in settlement of an accounts receivable. An entry had not been made for the NSF check. The credit memo is for the collection of a note receivable including interest of $60 which has not been accrued. The bank service charge is $25.00.
Instructions
(a) Prepare a bank reconciliation at October 31.
(b) Prepare the adjusting journal entries required by the bank reconciliation.

The Cash Balance Per Books for Feagen Company on September