Bank Reconciliation--Computation and Journal Entry

question 81

Essay

Bank reconciliation--computation and journal entry
The Cash account in the ledger of Arnaz Company showed a balance of $13,307 at March 31.
The bank statement, however, showed a balance of $9,936 at the same date. The only reconciling items consisted of a $4,902 deposit in transit, a bank service charge of $36, outstanding checks totaling $2,600, and an NSF check from L. Ball, one of Arnaz' customers.
(a) What is the amount of the adjusted cash balance on March 31?
(b) What is the amount of the NSF check?
(c) Record the journal entry necessary, if any, to adjust Arnaz Company's accounting records at March 31:

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Definitions:

Public Opinion Survey

A method used to measure the opinions or attitudes of a population regarding specific issues or policies.

Simple Random Sample

A sampling method where each member of a population has an equal chance of being selected, ensuring that the sample represents the population accurately.

Pollsters

Professionals who conduct surveys or polls to collect public opinion data on various subjects, often related to politics or consumer preferences.

Survey

A method of gathering information by asking questions to a sample of people to infer about a larger population.