I\'m having a hard time with the journal entries. But I want to be sure my adjus

Question

I'm having a hard time with the journal entries. But I want to be sure my adjusted balances are correct. so far I have the following:

I need help making sure my set up of this bank reconciliation and journal entries are being set up right. I thought I understood but i'm looking at it and I am not sure where to begin.

so far I have:
Cash balance per bank statement
Add: do I add $7,160 from the cash receipt journal?
Less: i'm confused here normally I'd see something that would state "outstanding checks" is it 2,900?
adjusted cash balance per bank is the amount $8830 correct?

Cash balance per books
Add: am I using the amount $7,340 from the general Ledger? (always?)

Less: 20 (service charge)
1,500 credit memo
adjusted cash balance per books $8830 . am I doing this alright.

The journal entries. I always seem to have a hard time with these. Are my journal entries supposed to be:
Cash 7,340
Note receivable? 7,340

Bank charges 25
credit memo 1,500
cash 1525???

Explanation / Answer

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Bank reconcilation As on 30 April ( All Amounts are in ($) ($) Balance as per bank 7160 Add Surplus of Cash ledger not deposited in Bank 1740 Amount Received but not deposited in Bank 2900 Less :Amount Paid but not shown in Bank 1050 Less: Amount Paid but not shown in Bank 110 1740 Less outstanding Cheque no 1715 70 Adjusted Bank Balance As on 30 April 8830 Cash Balance As per General ledger 7340 Add: CM received but not entered in cash Receipt 1500 Add: IN credited by bank but not recorded in GL 10 Less : SC by bank but not recorded in GL 20 Adjusted Cash Balance As on 30 April 8830

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