A A Aa- Font Paragraph 21 AaBbce AaBbCd AaBbc AaBbce AYA * Normal No Spac... Heading Heading 2 Styles Review Exercise 2 The following information is available to reconcile Gucci's book balance of cash with its bank statement cash balance as of December 31 Prepare the bank reconciliation for this company as of December 31 a The December 31 cash balance according to the accounting records is $1,610, and the bank statement cash balance for that date is $1,900. . Gucci's December 31 daily cash receipts of $800 were placed in the bank's night depository on December 31, but do not appear on the December 31 bank statement. c Check No. 6273 for $400 and Check No 6282 for $100, both written and entered in the accounting records in December, are not among the canceled checks. Two checks, No 6231 for $2,000 and No. 6242 for $200, were outstanding on the most recent November 30 reconciliation Check No. 6231 is listed with the December canceled checks, but Check No. 6242 is not. d When the December checks are compared with entries in the accounting records, it is found that Check No. 6267 had been correctly drawn for $340 to pay for office supplies but was erroneously entered in the accounting records as S430. e A credit memorandum indicates that the bank collected $500 cash on a note receivable for the company, deducted a $30 collection fee, and credited the balance to the company's Cash account. Gucci had not recorded this transaction before receiving the statement f. Two debit memoranda are enclosed with the statement and are unrecorded at the time of the reconciliation. One debit memorandum is for SISO and dealt with an NSF check for 5140 received from a customer, Prada Inc., in payment of its account. The bank assessed a $10 fee for processing it. The second debit memorandum is a 520 charge for check printing Gucci had not recorded these transactions before receiving the statement Required: Prepare a bank reconciliation for V Gucci's book using the above information: Solution