Question 1
The following information regarding cash for Alpha Company is provided for the month ending March 31, 2016:
|
Item
|
Amount
|
|
Ending Cash per Bank Statement
|
$1,484
|
|
Ending Cash per Company Books
|
$1,681
|
|
Bank Service Charges
|
$11
|
|
Deposits in Transit
|
$317
|
|
Outstanding Cheques
|
$221
|
|
Customer Cheque returned NSF
|
$90
|
Use this information to prepare the compound General Journal entry (without explanation) for March 31, 2016, to cause the company books to match the adjusted cash balance based on the completed bank reconciliation. If no entry is required then write "No Entry Required."