Tutorial 4(1) - E624. Req. 1 RUSSELL COMPANY Bank...

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Req. 1 RUSSELL COMPANY Bank Reconciliation, September 30, 2011 Company's Books Bank Statement Ending balance per Cash account. .......................... $5,700 Ending balance per bank statement. ........................ $4,770 Additions: Additions: None Deposit in transit*. ........ 1,200 * 5,970 Deductions: Deductions: Bank service charges. .. $ 60 NSF check – Betty Brown. ............ 170 230 Outstanding checks ($28,900 – $28,400). ... 500 Correct cash balance. ...... $5,470 Correct cash balance. ....... $5,470 *$28,600 - $27,400 = $1,200. Req. 2 (1) Bank service charge expense (+E, –SE). ................................ 60 Cash (–A). ..................................................................... 60 To record bank service charges deducted from bank balance. (2) Accounts receivable (Betty Brown) (+A). ................................. 170 Cash (–A). ..................................................................... 170 To record customer check returned due to insufficient funds. Req. 3
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Tutorial 4(1) - E624. Req. 1 RUSSELL COMPANY Bank...

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