Accounting 20 Chapter 7: Fraud, Internal Control, and Cash November 30, 20xx Bank Reconciliation December Checks and Receipts as per books Check Register Receipts Journal Rank Balance: 5,404.84 Books Balance: 9,558.43 $843.86 17 18 19 941.34 12/5 12/21 12/27 12/31 Add: $172.96 780.62 157.00 587.50 Add: Deposit in transit: 5,48438 CM: 1,250.00 808.58 967.00 214.15 Less: Less Outstanding check: 148.29 SC: 17.50 Correction of A/P error: 50.00 22 23 578.84 1.687.50 921.30 246.03 10,740.93 Adj. Balance: Adj. Balance: 10.740.93 25 The cash balance per books for the Jason Company on December 31, 20xx is $8,736.01. The following shows a prior period bank reconciliation as well as all checks and receipts that were recorded for the month of December. In addition, the bank statement for the month of December is presented below: Balance Last Statement Deposits and Credits Checks and Debits Balance This Statement $5,404.84 5 $9,178.36 10 $3,632.19 $10,951.01 Checks and other Debits No. Amount 14 148.29 18 708.62 19 157.00 21 234.15 22 578.84 No. Amount 17 372.96 24 921.30 25 246.03 15.00 SC 250.00 NSF Deposits 5,484.38 843.86 941.54 808.58 1,100.00 CM Date 12/1 12/8 12/23 12/29 12/31 Balance $9,875.13 $9,219.03 $9,541.58 $10,101.01 $10,951.01 Symbols: NSF (Not sufficient Funds) SC (Service Charge) CM (Credit Memo) All checks were correctly written. The NSF check was from S. Hom, a customer, in settlement of an account receivable. An entry has not been made for the NSF check. The credit memo is for the collection of a note receivable including interest of $60 that has not been accrued. The bank service charge is $15.00 Instructions (a) Prepare a bank reconciliation at December 31 (b) Prepare the adjusting journal entries required by the bank reconciliation Accounting 201 Jason Company Bank Reconciliation December 31, 20xx Books Journal Entries Date Account Titles Credit