Kendra Enterprises has never paid a dividend. Free cash flow is projected to be $80,000 and $100,000 for the next 2 years, respe
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Answer:
Explanation:
Bank reconciliation: Bank reconciliation deals with balance of bank statements and balance of cash statements. The aim is to compare those two statements to allow the organization to run smoothly.
There are various transactions because of which the balance of the bank statement and the balance of the cash statement do not match We change the transactions accordingly to match those statements.
The preparation of the bank reconciliation statement on July 31, 2018 is presented in the spreadsheet. Kindly find the attachment below:
2. The adjusting entry would be
Bank service charge expense A/c Dr $55
To Cash A/c $55
(Being the bank service charges is recorded)
