After Picard Company had completed all posting for the month of December, the sum of the balances in the following accounts payable subsidiary ledger did not agree with the balance of the control account in the general ledger.

Name Rykers

Address 286 Buck Avenue

Date Item Post. Ref. Debit Credit Balance

Dec. 2 P25 2,400 2,400

Name Geordie Company Address 818 Western Avenue

Date Item Post. Ref. Debit Credit Balance

Dec. 1	Balance				7,600
10		CP23	7,600
20		P32		3,300	3,300
29		J15	800		4,100

Name Laforge Company Address 90210 Baker Boulevard

Date Item Post. Ref. Debit Credit Balance

Dec. 1	Balance				9,900
18		CP28	9,900
29		P34		10,500	600

Name Deanna Troi

Address 2720 Sommers Avenue

Date Item Post. Ref. Debit Credit Balance

Dec. 8	P27	6,000	6,000
27	P33	8,000	14,000

Name OBrien Supplies Address 1560 Puckett Street

Date Item Post. Ref. Debit Credit Balance

Dec. 1	Balance				8,200
7		P26		5,600	13,800
12		J11	620		12,180
20		CP29		6,000	18,180

The balance in the Accounts Payable control account of $36,580 has been verified as correct. Also assume that the journals references in the Post Ref. columns of the accounts payable subsidiary ledger have been verified as correct.

Instructions

Determine the errors in the preceding accounts payable subsidiary accounts and prepare a corrected schedule of accounts payable.

Part 2 is as follows:

Lyleen Boat Company's bank statement for the month of September showed a balance per bank of $7,000. The company's Cash account in the general ledger had a balance of $5,459 at September 30. Other information is as follows:

(1) Cash receipts for September 30 recorded on the company's books were $5,700 but this amount does not appear on the bank statement.

(2) The bank statement shows a debit memorandum for $40 for check printing charges.

(3) Check No. 119 payable to Mann Company was recorded in the cash payments journal and cleared the bank for $248. A review of the accounts payable subsidiary ledger shows a $36 credit balance in the account of Mann Company and that the payment to them should have been for $284.

(4) The total amount of checks still outstanding at September 30 amounted to $5,000.

(5) Check No. 138 was correctly written and paid by the bank for $409. The cash payment journal reflects an entry for Check No. 138 as a debit to Accounts Payable and a credit to Cash in Bank for $490.

(6) The bank returned an NSF check from a customer for $360.

(7) The bank included a credit memorandum for $2,560 which represents collection of a customer's note by the bank for the company; principal amount of the note was $2,500 and interest was $60. Interest has not been accrued.

Instructions

(a) Prepare a bank reconciliation for Lyleen Boat Company at September 30.

(b) Prepare any adjusting entries necessary as a result of the bank reconciliation.