P7-28A Preparing a bank reconciliation and journal entries [20 min]
The August 31 bank statement of Winchester’s Healthcare has just arrived from
United Bank. To prepare the bank reconciliation, you gather the following data:
a. The August 31 bank balance is $4,870.
b. The bank statement includes two charges for NSF checks from
customers. One is for $400 (#1), and the other for $110 (#2).
c. The following Winchester checks are outstanding at August 31:
and so on ...
Requirements
1. Prepare the bank reconciliation for Winchester’s Healthcare at August 31, 2012.
2. Journalize any required entries from the bank reconciliation. Include an explanation
for each entry
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