Essay
The unadjusted cash account balance for Carson Company at December 31,2016 is $12,615.The bank statement showed an ending balance of $18,250 at December 31,2016.The following information is available from an examination of the bank statement and the company's accounting records:
Check #433 for the purchase of inventory was written correctly and paid by the bank correctly for $432,but was recorded on the books at $234.Carson uses the perpetual inventory system.
Required:
1)Prepare a bank reconciliation for December,2016.
2)Prepare the necessary journal entries at December 31,2016.
Correct Answer:
Verified
Correct Answer:
Verified
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