A November 1 internal audit of the Lebanon School Corporation accounts at the close of business on October 31 produced the following information:

a. Cash balance in bank account $52,000.

b. Bank statement account balance 37,000.

c. Outstanding checks:

d. October 31 cash receipts of $11,870 were deposited November 1.

e. The following charges appeared on the bank statement:

to the district’s account by the bank on October 14.)

f. Check no. 412 for $650 was improperly recorded as $250 on both check stub and cash payments journal. The check was issued to pay for teaching supplies.
g. An october 28 credit memorandum for $1,100, representing proceeds of a note receivable left at the bank for collection, had not been recorded in the checkbook or cash receipts journal.
Instructions:

Transcribed Image Text:

#401 $170 #410 50 #413 210 #421 675 #438 300 #450 1,050 #456 1,205