Journal Entries For Bank Reconciliation z2m4c

Adjusting Journal Entries for Bank Reconciliations

Journal Entry Title

Transaction Description

Debit

Credit

Bank services, returned checks, and fees: The collection by the bank for the corporation of a Notes Receivable when the interest has not been accrued

Cash Collection Fee Expense Notes Receivable Interest Revenue

NSF Check—Customer does not have funds in their s Receivable bank to cover payment of check. Cash

XXX XXX XXX XXX XXX XXX

Bank Service Charges—Charges to the corporation for check printing services.

Check Printing Expense Cash

XXX

Bank Service Charges—Charges to the corporation for checking service fees from the bank.

Bank Service Expenses Cash

XXX

Book Errors: The check is written out for more than what was recorded in the check .

s Payable Cash

XXX

The deposit is recorded on the books as higher than the dollar amount deposited in the bank.

s Receivable Cash

XXX

The check is written out for less than what was recorded in the check .

Cash

XXX s Payable

XXX

XXX

XXX

XXX

XXX

Cash XXX The deposit is recorded on the books as lower than the dollar amount deposited in the bank. s Receivable XXX For book errors, you will subtract the actual amount from the recorded amount to get the dollar amount for the correcting adjusting entry.

MJC Revised 10/2011

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