Business, 23.03.2020 19:32 giany

Great Falls Co's bank reconciliation as of February 28 is shown below $38,153 +745 -35 $37,643 Book balance Bank balance + Deposit in transit 2,950 Note collection -1,730 Check printing Outstanding checks Adjusted bank balance 538,863 $38,863 Adjusted book balance

One of the adjusting journal entries that Great Falls must record as a result of the bank reconciliation includes.

a. Debit Cash $2,950; credit Accounts Receivable $2,950.
b. Debit Miscellaneous Expense $35; credit Accounts Payable $35.
c. Debit Cash $745; credit Note Receivable $745.
d. Debit Cash $2,950; credit Sales $2,950.
e. Debit Note Payable $745; credit Cash $745.

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Great Falls Co's bank reconciliation as of February 28 is shown below $38,153 +745 -35 $37,643 Book...

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