- S On October 31 2021 Damon Company S General Ledger Shows A Checking Account Balance Of 8 445 The Company S Cash Rec 1 (44.35 KiB) Viewed 11 times
- S On October 31 2021 Damon Company S General Ledger Shows A Checking Account Balance Of 8 445 The Company S Cash Rec 2 (30.12 KiB) Viewed 11 times
- S On October 31 2021 Damon Company S General Ledger Shows A Checking Account Balance Of 8 445 The Company S Cash Rec 3 (33.01 KiB) Viewed 11 times
s On October 31, 2021, Damon
Company's general ledger shows a checking account balance of $8,445. The
company's cash receipts for the month total $74,640, of which $71,375 has been deposited in the bank. In addition, the
company has written checks for $72,515, of which $71,270 has been processed by the bank. The bank
statement reveals an ending balance of $12,895 and includes the following items not yet recorded by Damon: bank service fees of $310, note receivable collected by the bank of $6,600, and interest earned on the account balance plus from the note of $1,120. After closer inspection, Damon realizes that the bank incorrectly charged the
company's account $940 for an automatic withdrawal that should have been charged to another customer's account. The bank agrees to the error. Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on October 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) Bank's Cash Balance Per bank
statement Bank balance per reconciliation DAMON
COMPANY Bank Reconciliation October 31, 2021
Company's Cash Balance) Per general ledger
Company balance per reconciliation
Journal entry worksheet 1 2 Record the amounts that increase cash. Note: Enter debits before credits. Date October 31, 2021 Record entry General Journal. Clear entry Debit Credit View general journal
Journal entry worksheet < 2 Record the amounts that decrease cash. Note: Enter debits before credits. Date October 31, 2021 Record entry General Journal, Clear entry Debit Credit View general journal