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Question(s) / Instruction(s):

Anna Pelo is unable to reconcile the bank balance at January 31. Anna's reconciliation is as follows.

                Cash balance per bank                   $3,560.20

                Add: NSF check                                       690.00

                Less: Bank service charge                     25.00

                Adjusted balance per bank          $4,225.20

                                 

                Cash balance per books                                $3,875.20

                Less: Deposits in transit                      530.00

                Add: Outstanding checks                   930.00

                Adjusted balance per books       $4,275.20

Required:

1.            Prepare correct bank reconciliation.

2.            Journalize the entries required by the reconciliation

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