Based on the following, please (1) complete the bank reconciliation for Rick’s Deli found on the reverse of the bank statement on the following page and (2) journalize the appropriate entries as needed.

a. Checks outstanding: no. 110, $80; no. 116, $160; no. 118, $52.

b. A deposit of $416 is in transit.

c. The checkbook balance of Rick’s Deli shows an ending balance of $798.

d. Jim Rice’s check for $40 bounced due to lack of sufficient funds.LO.1 

Transcribed Image Text:

LOWELL NATIONAL BANK RIO MEAN BRAND BUGNA, TEXAS RICK'S DELI 8811 2ND ST, BUGNA, TEXAS Old Checks in Order New Balance of Payment Deposits Date Balance 718.00 4/2 718.00 12.00 36.00 4/3 670.00 20.00 40.00 4/10 690.00 80.00 80.00 4/15 690.00 40.00 NSF 40.00 4/20 690.00 160.00 160.00 4/24 690.00 80.00 2.00 SC 24.00 4/28 632.00