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The bank reconciliation for Kipling Company showed a balance per bank of $8,650 and balance per books of $9,250 as of July 31. After adjusting for deposits in transit of $2,850, outstanding checks of $1,100, a bank charge of $15, and an NSF check of $335, the correct cash balance was $10,400. A journal entry was made to increase cash by $1,150 to correct the books, with offsets to office expense for $15 and accounts receivable for $335 to record the bank charge and NSF check.

Author

Muhammad Syafiq Ramadhan

Language

EN