ABC Inc.

The following data were gathered to use in reconciling the bank account of ABC, Inc.

Balance per bank
$17,400

Balance per company records
5,765

Bank Service charges
125

Deposit in transit
3,000

Note collected by bank with $360 interest
9,360

Outstanding checks
5,400
a) What is the adjusted balance on the bank reconciliation? (5 points)

b) Journalize any necessary entries for ABC, Inc. based on the bank reconciliation