Question
a. Prepare the May reconciliation for ABC Retails Co. using the following information: Bank statement balance: $1,834.51 Cash account balance: $2,240.51 The following cheques were
a. Prepare the May reconciliation for ABC Retails Co. using the following information: Bank statement balance: $1,834.51 Cash account balance: $2,240.51 The following cheques were recorded in the cash payments journal but did not appear on the bank statement: #168 $87.00, #139 $297.30, #199 $972.30 A deposit for $1,890 dated April 30 was recorded in the cash receipts journal but not appear on the bank statement Service charge of $47.25 are shown on the bank statement A NSF cheque for $143.50 appeared on the bank statement as a returned item. It had been received by J. Smith and was recorded in the companys cash receipts journal. A bank charge of $20 was levied A cheque for $37.50 has been cashed (correctly) by the client but was incorrectly recorded in the companys cash payments journal as $375.50. The cheque was issued for the purchase of office supplies.
b. in a general journal, record any entries required to bring ABC Retail Co.s records up to date.
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