Essay
Merrifield Lawn Care's bank statement at August 31 showed an ending balance of $23,716.87. The unadjusted cash account balance for Merrifield is $20,237.98. The following data were gathered by Merrifield's accountant:Check number 2143 was correctly written for $427. It was recorded in the company's books as $472 for utilities.Outstanding checks as of August 31: $7,128.71NSF check from customer: $71.82Debit memo related to the returned deposit: $8.00Credit memo related to interest earned: $10.00Deposits in transit: $3,625.00
Required:Prepare a bank reconciliation for Merrifield Lawn Care at August 31.Indicate how each of the required adjusting entries impact the financial statements.
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Verified
\[\begin{array} { l r }
\text { Bal ...
View Answer
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