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Prepare the Required Journal Entries from the Bank Reconciliation Below

Question 92

Essay

Prepare the required journal entries from the bank reconciliation below as of the end of January:
The balance per general ledger is $200
There is a debit memo for interest expense,$100
There is a debit memo for a customer's NSF check $375
Outstanding checks amount to $2,000
This month's service charge amounts to $75
Deposits in transit amount to $1,500

Correct Answer:

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