ACC 205 Week 2 Exercise 6 Bank reconciliation and entries
Bank reconciliation and entries. The following information was taken from the accounting records of Palmetto Company for the month of January:
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Write My Essay For Me| Balance per bank | $6,150 |
| Balance per company records | 3,580 |
| Bank service charge for January | 20 |
| Deposits in transit | 940 |
| Interest on note collected by bank | 100 |
| Note collected by bank | 1,000 |
| NSF check returned by the bank with the bank statement | 650 |
| Outstanding checks | 3,080 |
Instructions:
- Prepare Palmetto’s January bank reconciliation.
- Prepare any necessary journal entries for Palmetto.
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