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ABC Co.'s Chequing account book balance on June 30 was $9,111.45. On July 2, you recelved the bank statement. The bank statement balance on June

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ABC Co.'s Chequing account book balance on June 30 was $9,111.45. On July 2, you recelved the bank statement. The bank statement balance on June 30 revealed a bank balance of $12,733.61. In comparing the bank statement with the bank transactions per general ledger, the following information was discovered: 1. Monthly senvice charge, $3.62 2. Outstanding cheques, $5,142.65 3. Deposit in transit, $1,498.87 4. A cheque paid by the bank for $31 for telephone charges was incorrectly recorded in the general ledger as \$13. Required: (1) Prepare a bank reconciliation tled June 30 of the cument year, based on the above information. (2) Prepare the necessary journal entries resulting from the preparation of this bank reconciliation. PROBLEM 4. WRITING ASSESSMENT Write a brief memo (1-2 paragraphs) to your Accounting Manager. Your memo should address your findings and recommendations from the accounting work you performed above in one of the 3 problems above

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