A company's records indicate the balance in its chequing account at the end of the month is $5,671.Comparing the company's records with the monthly bank statement reveals several additional cash transactions,such as a bank service charge of $75,a $4,000 note receivable collected by the bank plus interest earned of $100,and an NSF cheque for $350.Determine the company's adjusted cash balance and prepare the journal entries necessary to adjust the account balance.

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The Answer of A company's records indicate the balance in its chequing account at the end of the month is $5,671.Comparing the company's records with the monthly bank statement reveals several additional cash transactions,such as a bank service charge of $75,a $4,000 note receivable collected by the bank plus interest earned of $100,and an NSF cheque for $350.Determine the company's adjusted cash balance and prepare the journal entries necessary to adjust the account balance.

A Company's Records Indicate the Balance in Its Chequing Account