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Lecture

ACTG 1P91 Lecture Notes - Bank Statement, Accounts Receivable, Bank Reconciliation


Department
Accounting
Course Code
ACTG 1P91
Professor
Linda Stillabower

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PA6–1
Req. 1 MARTIN COMPANY
Bank Reconciliation
May 31, 2008
Bank Statement
Company's Books
Ending balance per bank
statement .........................
$7,180
Ending balance per Cash
account .............................
$7,400
Additions:
Additions:
Deposit in transit* .........
4,000
Interest earned .............
120
11,180
7,520
Deductions:
Deductions:
Bank service charges.... $ 60
Outstanding cheques** .
4,000
NSF cheque
B. A. Dugry ...............
280
340
Up-to-date cash balance ...
$7,180
Up-to-date cash balance ...
$7,180
*$22,000 18,000 = $4,000.
**$23,400 22,100 + 2,700 = $4,000
Req. 2
(1) dr. Cash (+A) ............................................................................ 120
cr. Interest revenue (+R,+SE) ........................................ 120
Interest earned.
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