Question
Prepare a cash reconciliation for the month ending April 30, 2019 for Acme Products using the...
Prepare a cash reconciliation for the month ending April 30, 2019 for Acme Products using the following information. Also, journalize the two adjustments necessary.
A The bank's ending cash balance is $98,600.
B The ledger balance (company balance) is $82,455.
C There are outstanding checks totaling $14,870.
D There is one deposit in transit $4,500.
E The bank charged Acme a $125 service fee.
F One of Acme's customers paid $5,000 on account via an EFT transfer to Acme's checking account. Acme has not yet recorded this transaction
G The bank made an error by recording a deposit as $1,000 instead of $100.
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