BANK RECONCILIATION. Raymond Corporation received the following bank gt)# statement for the month of October 19x3:

Raymond’s cash-in-bank account provides the following information:

REQUIRED:
1. Prepare a bank reconciliation. (Hint: There is one transposition error in the cash account. )
2. Prepare adjusting entries based on the bank reconciliation.
3. What amount should be reported for cash in bank on the balance sheet at October 31?

Transcribed Image Text:

BANK TONE RAYMOND CORPORATION 1989 BRUIN WAY CHICAGO, ILLINOIS 60601 Total Account Bank Statement ACCOUNT NUMBER 10-3894-6 STATEMENT DATE 10/31/x3 DATE OF LAST STATEMENT BALANCE AS SHOWN ON PREVIOUS STATEMENT NUMBER OF DEPOSITS OR CREDITS NUMBER OF CHECKS OR DEBITS TOTAL OF DEPOSITS AND OTHER CREDITS TOTAL OF CHECKS AND OTHER DEBITS SERVICE CHARGE BALANCE AS OF CURRENT DATE CHECKS AND OTHER DEBITE 1,204.50 9/30/x3 $ 4,831.50 3 20 $ 9,820.81 $ 9,340.61 20.00 $5,311.70 DEPOSITS AND OTHER CREDITS DATE BALANCE 2.970.18 10/2 6,597.18 43.80 321.70 10/4 6,231.68 905.36 10/0 5,326.32 100.20 60.00 30.11 10/10 5,128.01 4,000.00 10/13 9,128.01 290.45 SP- 10/14 8,837.56 516.11 309.24 10/17 8,012.21 106.39 431.15 21.72 2,850.63 10/19 10,303.58 3,108.42 63.89 10/21 7,195.16 10/23 7,131.27 290.00 DM 111.90 10/25 6,729.37 88.90 1,308.771 20.00 SCS *NSF Not sufficient funds DM SSC Debit nomo Service charge 10/27 6,640.47 10/31 5,331.70 5,311.70