Question
Bank reconciliation and entries The cash account for Collegiate Sports Co. on November 1, 20Y9, indicated a balance of $13,590. During November, the total cash
Bank reconciliation and entries
The cash account for Collegiate Sports Co. on November 1, 20Y9, indicated a balance of $13,590. During November, the total cash deposited was $74,420 and checks written totaled $69,100. The bank statement indicated a balance of $25,230 on November 30, 20Y9. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items:
Checks outstanding totaled $11,240.
A deposit of $9,150, representing receipts of November 30, had been made too late to appear on the bank statement.
A check for $850 had been incorrectly charged by the bank as $580.
A check for $520 returned with the statement had been recorded by Collegiate Sports Co. as $250. The check was for the payment of an obligation to Ramirez Co. on account.
The bank had collected for Collegiate Sports Co. $4,840 on a note left for collection. The face of the note was $4,470.
Bank service charges for November amounted to $30.
A check for $1,120 from Hallen Academy was returned by the bank because of insufficient funds.
Instructions:
Question Content Area
1. Prepare a bank reconciliation as of November 30, 20Y9.
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