Bank reconciliation information for Cole Co. for May 31, 2011 is as follows: (a)

Question

Bank reconciliation information for Cole Co. for May 31, 2011 is as follows:

(a)

The bank statement balance is $2,936.

(b)

The cash account balance is $3,194.

(c)

Outstanding checks amounted to $465.

(d)

Deposits in transit are $655.

(e)

The bank service charge is $50.

(f)

A check for $97 for supplies was recorded as $79 in the ledger.

Record the appropriate journal entry for Cole Co.

(a)

The bank statement balance is $2,936.

(b)

The cash account balance is $3,194.

(c)

Outstanding checks amounted to $465.

(d)

Deposits in transit are $655.

(e)

The bank service charge is $50.

(f)

A check for $97 for supplies was recorded as $79 in the ledger.

Explanation / Answer

Bank reconciliation information for Cole Co. for May 31, 2011 is as follows: (a)

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