The following data were gathered to use in reconciling the bank account of Photo Op.
|
Balance per bank |
$14,500 |
|
Balance per company records |
13,875 |
|
Bank service charges |
75 |
|
Deposit in transit |
3,750 |
|
NSF check |
800 |
|
Outstanding checks |
5,250 |
a. What is the adjusted balance on the bank reconciliation?
b. Journalize any necessary entries for Photo Op based upon the bank reconciliation.