Bank Reconciliation and Related Journal Entries

The book balance in the checking account of Lyle's Salon as of November $30$ is $$3,282\mathrm{.}95.$ The bank statement shows an ending balance of $$2,127.$ By examining last month's bank reconciliation, comparing the deposits and checks written per books and per bank in November, and noting the service charges and other debit and credit memos shown on the bank statement, the following were found:

An ATM withdrawal of $$150$ on November $18$ by Lyle for personal use was not recorded on the books.

A bank debit memo issued for an NSF check from a customer of $$19\mathrm{.}50.$

A bank credit memo issued for interest of $$19$ earned during the month.

On November $30,$ a deposit of $$1,177$ was made, which is not shown on the bank statement.

A bank debit memo issued for $$17\mathrm{.}50$ for bank service charges.

Checks No$.549,561,$ and $562$ for the amounts of $$185,$ $$21,$ and $$9\mathrm{.}40,$ respectively, were written during November but have not yet been received by the bank.

The reconciliation from the previous month showed outstanding checks totaling $$271\mathrm{.}95.$ One of those checks, No$.471$ for $$18\mathrm{.}65,$ has not yet been received by the bank.

Check No$.523$ written to a creditor in the amount of $$372\mathrm{.}90$ was recorded in the books as $$327\mathrm{.}90.$

Required:

$1.$ Prepare a bank reconciliation as of November $30.$ When required, enter amounts in dollars and cents.

$2.$ Prepare the required journal entries. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank.

Question Content Area

$1.$ Prepare a bank reconciliation as of November $30.$ When required, enter amounts in dollars and cents.

Lyle's Salon

Bank Reconciliation

November $30,20--$