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Bank Reconciliation and Entries The cash account for Collegiate Sports Co. on November 1, 20Y9, indicated a balance of $81,145. During November, the total cash
Bank Reconciliation and Entries The cash account for Collegiate Sports Co. on November 1, 20Y9, indicated a balance of $81,145. During November, the total cash deposited was $293,150, and checks written totaled s307,360. The bank statement indicated a balance of $112,675 on November 30, 20Y9. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling tems a. Checks outstanding totaled $41,840 b. A deposit of $12,200, representing receipts of November 30, had been made too late to appear on the bank statement. c. A check for $7,250 had been incorrectly charged by the bank as $2,750. d. A check for $760 returned with the statement had been recorded by Collegiate Sports Co. as $7,600. The check was for the payment of an obligation to Ramirez Co, on account e. The bank had collected for Collegiate Sports Co. 7,385 on a note left 'or collection. The face of the note was S 7,000. f. Bank service charges for November amounted to $125 g. A check for $2,500 from Hallen Academy was returned by the bank because of insufficient funds Required: 1. Prepare a bank reconciliation as of November 30, 20Y9 Collegiate Sports Co Bank Reconcilation November 30, 20Y9 Cash balance according to bank statement Adjustments
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