Question - On September 30, Turner Company's Cash account had a balance of S30,580. On that date, the bank statement had a balance of $29,970. Analysis of the bank statement and comparison of the statement with the records indicated the following:
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Deposits in transit at the end of September
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$ 11,950
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Outstanding checks at the end of September
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5,910
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Bank service charge
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30
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Customers returned check. NSF
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1,500
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Bonk collection of note on our behalf
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5,070
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Interest income on note
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220
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In reviewing the records, Turner Company also discovered the following error: A Jones Company deposit of S1,670 was incorrectly credited to Turner Company's account.
Required: Prepare the journal entries necessary to update the Cash account so that its balance is equal to the adjusted balance per bank reconciliation. Make sure to enter the day for each separate transaction.