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Bank Reconciliation and Entries The cash account for Norwegian Medical Co. at April 30 indicated a balance of $9,325. The bank statement indicated a balance
Bank Reconciliation and Entries The cash account for Norwegian Medical Co. at April 30 indicated a balance of $9,325. The bank statement indicated a balance of $10,660 on A bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $3,840. b. A deposit of $4,000, representing receipts of April 30, had been made too late to appear on the bank statement. C. The bank collected $2,080 on a $1,970 note, including interest of $110. d. A check for $880 returned with the statement had been incorrectly recorded by Norwegian Medical Co. as $800. The check was for the paym Universal Supply Co. for a purchase on account. e. A check drawn for $50 had been erroneously charged by the bank as $500. f. Bank service charges for April amounted to $55. Required: 1. Prepare a bank reconciliation. Norwegian Medical Co. Bank Reconciliation April 30 Cash balance according to bank statement
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