The Following Data Were Gathered to Use in Reconciling the Bank

question 101

Essay

The following data were gathered to use in reconciling the bank statement of Build-A-Lot: $$\begin{array} { | l | l | } \hline \text { alance per bank } & \$ 14,355 \\\hline \text { Balance per company records } & 14,010 \\\hline \text { Bank service charges } & 80 \\\hline \text { Deposits in transit } & 4,100 \\\hline \text { NSF checks } & 775 \\\hline \text { Outstanding checks } & 5,300 \\\hline\end{array}$$ 1) What is the adjusted balance on the bank reconciliation?
2) Journalize any necessary entries for Build-A-Lot based on the bank reconciliation.

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