EX 8-17 Entries based on bank reconciliation

Which of the reconciling items listed in Exercise 8-16 require an entry in the company’s accounts?


Answer:
(1), (2), (3), (7)
The preceding additions and deductions to the cash balance according to the company’s records require journal entries in the company’s records. Additions and deductions to the cash balance according to the bank’s records do not require the company to record journal entries.