The following information was taken from the accounting records of Palmetto Company for the month of January

Question # 00001875 Posted By: expert-mustang Updated on: 10/04/2013 07:21 AM Due on: 10/04/2013
Subject Accounting Topic Accounting Tutorials:
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5. Bank reconciliation and entries. The following information was taken from the accounting records of Palmetto Company for the month of January:
Balance per bank $6,150
Balance per company records $3,580
Bank service charge for January $20
Deposits in transit $940
Interest on note collected by bank $100
Note collected by bank $1,000
NSF check returned by the bank with the bank statement $650
Outstanding checks $3,080

Instructions:
a. Prepare Palmetto’s January bank reconciliation.
b. Prepare any necessary journal entries for Palmetto.

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  1. Tutorial # 00001714 Posted By: expert-mustang Posted on: 10/04/2013 07:22 AM
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