I need help in this question. Please answer accordingly in a table form just lik

Question

I need help in this question. Please answer accordingly in a table form just like the question for easy understanding. Thank you.

  (1A)

(1B)

Following is a bank reconciliation for Zocar Enterprises for June 30, 2018 Cash Account $24,240 Bank Statement $21,540 Balance as of 6/30/2018 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSF check 3,500 (510) 1,460 (20) (1,150) $24,530 Adjusted cash balance as of 6/30/2018 $24,530 When reviewing the bank reconciliation, Zocar's auditor was unable to locate any reference to the NSF check on the bank statement. Furthermore, the clerk who reconciles the bank account and records the adjusting entries could not find the actual NSF check that should have been included in the bank statement. Finally, there was no specific reference in the accounts receivable supporting records identifying a party who had written a bad check. Required a. Prepare the adjusting entry that the clerk would have made to record the NSF check. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Explanation / Answer

1A) Adjustment entry for recognizing the NSF Check :-

1B) Bank Reconciliation :-

Particulars Debit($) Credit($) Accounts Receivable A/c Dr. 1150 To Cash A/c 1150 (To Record NSF Check)

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