The following data were gathered to use in reconciling the bank account of DRW Company.
|
Balance per bank |
$28,100 |
|
Balance per company records |
9,155 |
|
Bank service charges |
80 |
|
Deposit in transit |
3,100 |
|
Note collected by bank with $225 interest |
15,225 |
|
Outstanding checks |
6,900 |
a. What is the adjusted balance on the bank reconciliation?
b. Journalize any necessary entries for DRW Company based upon the bank reconciliation.