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A.Checks outstanding totaled $6,659.B.A deposit of $1,875 representing receipts of May 31, had been made too late to appear on the bank statement.C.The bank had
A.Checks outstanding totaled $6,659.B.A deposit of $1,875 representing receipts of May 31, had been made too late to appear on the bank statement.C.The bank had collected for Brentwood Bike Co. $6,195 on a note left for collection. The face of the note was $5,900.D.A check for $170 returned with the statement had been incorrectly charged by the bank as $710.E.A check for $310 returned with the statement had been recorded by Brentwood Bike Co. as $130. The check was for the payment of an obligation to Adkins Co. on account.F.Bank service charges for May amounted to $24.G.A check for $1,213 from Jennings Co. was returned by the bank due to insufficient funds. Instructions1.Prepare a bank reconciliation as of May 31. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Deduct: or Add: will automatically appear if it is required.2.Journalize the necessary entries. The accounts have not been closed. Refer to the Chart of Accounts for exact wording of account titles.3.If a balance sheet is prepared for Brentwood Bike Co. on May 31, what amount should be reported as cash?
3. If a balance sheet were prepared for Brentwood Bike Co. on May 31, what amount should be reported as cash?
presented in the instructions. BRENTWOOD BIKE CO. Bank Reconciliation May 31 Journal 2. Journalize the necessary entries. The accounts have not been closed. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 presented in the instructions. BRENTWOOD BIKE CO. Bank Reconciliation May 31 Journal 2. Journalize the necessary entries. The accounts have not been closed. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1Step by Step Solution
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