EXERCISE 6-2 The Ledger Balance of Cash section of the bank reconciliation for L

Question

EXERCISE 6-2 The Ledger Balance of Cash section of the bank reconciliation for Lasha Company for July 31 follows. Ledger Balance of Cash Add: Note collected (principal $700.00, interest $17.50, $6,360.00 71750 signed by D. Dansky) Error in recording Ck. No. 2225 payable to Denton Company (recorded check for $12 too much) 729.50 S 7,089.50 12.00 $95.00 29.00 Deduct: NSF check from J. Kenyon 24.00 $6,965.50 Bank service and collection charges Adjusted Ledger Balance of Cash Journalize the entries required to bring the general ledger up to date as of July of this year.

Explanation / Answer

Cash 717.5        Notes receivable 700        Interest revenue 17.5 Cash 12       Accounts Payable 12 Accounts Receivable 95        Cash 95 Miscellaneous expense 29        Cash 29

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