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Alykhan Industries provided the following information for the month of February. 1. Balance per bank on February 28-$31,080 2. Balance per books on February 28-$32,210
Alykhan Industries provided the following information for the month of February. 1. Balance per bank on February 28-$31,080 2. Balance per books on February 28-$32,210 3. Total outstanding checks at February 28-$2,100 4. Debit memoranda: a. NSF check from Sanderson, Inc.-$450 b. Printing company checks-$20 c. Electronic payment to bank for a loan-$2,220. Of this amount, $90 is interest. 5. Credit memorandum: EFT from customer for $1,450 6. A check written this month to City Utilities and cleared the bank at the correct amount of $1,790, but was recorded at $1,870. 7. The bank charged a $270 check of ABC Company against Alykhan Industries' account. 8. Deposit in transit on February 28-$1,800 Instructions A. Prepare a bank reconciliation in proper format. B. Record the necessary journal entries for the month of February for Alykhan Industries
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