Because reconciling items that affect the book balance on a bank reconciliation have not been record

Because reconciling items that affect the book balance on a bank reconciliation have not been record

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Because reconciling items that affect the book balance on a bank reconciliation have not been  recorded in the company's books, they must be journalized and posted to the general ledger  accounts. The $1,565 credit memorandum requires a compound journal entry involving four 
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Unformatted text preview: accounts. Cash is debited for $1,565, bank fees expense is debited for $25, notes receivable is credited for $1,500, and interest revenue is credited for $90....
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This note was uploaded on 11/14/2011 for the course ACCT 1310 taught by Professor Staff during the Fall '10 term at Texas State.

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Because reconciling items that affect the book balance on a bank reconciliation have not been record

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