|
Type of adjustment |
Journal entry required? |
|
Bank charges |
Yes |
|
Bank interest (paid or received) |
Yes |
|
Transfers |
Yes |
|
Outstanding (unpresented) cheques |
No |
|
Outstanding (unpresented) deposits |
No |
|
Errors |
Yes |
|
Unrecorded transactions |
Yes |
This is also on Hand-out X. As you go through our next exercises, refer back to this to ensure you know when an entry is required and when it is not.