Essay
Rexrode Company's bank statement at January 31,2016 showed an ending balance of $24,712.80.The unadjusted cash account balance for Rexrode is $21,245.75.The following data were gathered by Rexrode's accountant:
Outstanding checks as of January 31: $4,895.44
NSF check from customer: $183.62
Debit memo related to the returned deposit: $20.00
Credit memo for interest earned: $12.00
Deposits in transit: $1,236.77
Required: 1)Prepare a bank reconciliation for Rexrode Company at January 31,2016.
2)Prepare the required journal entries for Cash at January 31,2016.
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