Business, 28.11.2019 03:31 sewolf1234
The checks that were processed by the bank in december include all of the outstanding checks at the end of november except for check #365. in addition, there are some december checks that had not been processed by the bank by the end of the month. also, you discover that check #411 for $630 was correctly recorded by the bank but was incorrectly recorded on the books as a $360 disbursement for advertising expense. included in the bank’s deposits is a $2,100 deposit incorrectly credited to the company’s account. the deposit should have been posted to the credit of the los gatos company. the nsf checks have not been redeposited and the company will seek payment from the customers involved.
required:
1. prepare a bank reconciliation for the el gato checking account at december 31, 2018.
2. prepare any necessary adjusting journal entries indicated.
Answers: 2
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