1 ) The information below was used to prepare a bank reconciliation for Lorena Company at October 31 According to the bank statement, the bank balance as of October 31 was $8,765 According to the books, the cash balance as of October 31 is $9,557 Outstanding checks totaled $1,433 A customer's check for $999 was returned for NSF October's service charge was $100 The bank collected $1,600 from a customer of Lorena Company in payment of a note receivable, including interest of $100 A new bookkeeper had errors in posting checks and recording cash receipts 1 Check 930 for Salaries Expense written for $930, recorded as $430 2 A cash sale for $2,300 on October 15 was not recorded by the bookkeeper since she was in a hurry to go to lunch Ignore Cost of Goods Sold A deposit was made by the company for $900 This was the correct amount, however, the bank made a mistake and recorded the deposit as $890 Deposits made at month end totaled $4,516 these were not shown on the bank statement Required 1 Prepare the bank reconciliation at October 31 2 Prepare the journal entries at October 31 1 ) The information below was used to prepare a bank reconciliation for Lorena Company at October 31 According to the bank statement, the bank balance as of October 31 was $8,765 According to the books, the cash balance as of October 31 is $9,557 Outstanding checks totaled $1,433 A customer's check for $999 was returned for NSF October's service charge was $100 The bank collected $1,600 from a customer of Lorena Company in payment of a note receivable, including interest of $100 keeper had errors in posting checks and recording cash receipts A new book 1, Check 930 for Salaries Expense written for $930, recorded as $430 2 A cash sale for $2,300 on October 15 was not recorded by the bookkeeper since she was in a hurry to go to lunch Ignore Cost of Goods Sold A deposit was made by the company for $900 This was the correct amount, however, the bank made a mistake and recorded the deposit as $890 Deposits made at month end totaled $4,516 these were not shown on the bank statement Required 1 Prepare the bank reconciliation at October 31 2 Prepare the journal entries at October 31

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1.) The information below was used to prepare a bank reconciliation for Lorena Company at October 31: According to the bank statement, the bank balance

1.) The information below was used to prepare a bank reconciliation for Lorena Company at October 31: According to the bank statement, the bank balance as of October 31 was $8,765. According to the books, the cash balance as of October 31 is $9,557. Outstanding checks totaled $1,433. A customer's check for $999 was returned for NSF. October's service charge was $100. The bank collected $1,600 from a customer of Lorena Company in payment of a note receivable, including interest of $100. A new bookkeeper had errors in posting checks and recording cash receipts: 1. Check #930 for Salaries Expense written for $930, recorded as $430. 2. A cash sale for $2,300 on October 15 was not recorded by the bookkeeper since she was in a hurry to go to lunch. Ignore Cost of Goods Sold. A deposit was made by the company for $900. This was the correct amount, however, the bank made a mistake and recorded the deposit as $890. Deposits made at month-end totaled $4,516; these were not shown on the bank statement. Required: 1. Prepare the bank reconciliation at October 31. 2. Prepare the journal entries at October 31.

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1.) The information below was used to prepare a bank reconciliation for Lorena Company at October 31 According to the bank statement, the bank balance as of October 31 was $8,765. According to the books, the cash balance as of October 31 is $9,557. Outstanding checks totaled $1,433 A customer's check for $999 was returned for NSF October's service charge was $100 The bank collected $1,600 from a customer of Lorena Company in payment of a note receivable, including interest of $100 keeper had errors in posting checks and recording cash receipts A new book 1, Check #930 for Salaries Expense written for $930, recorded as $430 2. A cash sale for $2,300 on October 15 was not recorded by the bookkeeper since she was in a hurry to go to lunch. Ignore Cost of Goods Sold. A deposit was made by the company for $900. This was the correct amount, however, the bank made a mistake and recorded the deposit as $890 Deposits made at month-end totaled $4,516; these were not shown on the bank statement. Required 1. Prepare the bank reconciliation at October 31 2. Prepare the journal entries at October 31