PE 8-3B Bank reconciliation
The following data were gathered to use in reconciling the bank account of Bradford Company:
|
Balance per bank |
$17,400 |
|
Balance per company records |
5,765 |
|
Bank service charges |
125 |
|
Deposit in transit |
3,000 |
|
Note collected by bank with $360 interest |
9,360 |
|
Outstanding checks |
5,400 |
a. What is the adjusted balance on the bank reconciliation?
b. Journalize any necessary entries for Bradford Company based on the bank reconciliation.