Question

1. The bank collected a note receivable of $2,500 for Tamarisk, Inc. on December 15 through electronic funds transfer. 2. The December 31 receipts were deposited in a night deposit vault on December 31. These deposits were recorded by the bank in January 3. Checks outstanding on December 31 totaled $1,200. 4. On December 31, the bank statement showed an NSF charge of $680 for a check received by the company from L. Bryan, a customer, on accour Prepare a bank reconciliation as of December 31 based on the available information. (Hint: The cash balance per books is $25,303. This can be prov parts (a) and (b)) (List items that increase cash balance first. Reconcile cash balance per bank first.) Tamarisk, Inc. Bank Reconciliation December 31, 2019 cash balance per bank statement al Ada B. Deposits in transit Less 2 outstanding checks Adjusted cash balance per bank 27123 TCash balance per books 25303 T Collection of note receivable 2500 27803 Less NSF 680 Adlusted cash balance per books 27123

Answer 1

Journal

Dec. 31	Cash	2,500
	Note receivable		2,500
Dec. 31	Accounts receivable - L. Bryan	680
	Cash		680
Dec. 31
Dec. 31

Adjustment entries regarding depreciation and insurance could not be made since no information has been provided in the question regarding these items. If you provide information regarding depreciation and insurance, I will prepare the remaining journal entries.

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