Bank Reconciliation

Option $1$:

Poplar Inc. has the following information to prepare the bank reconciliation for the month of July $2021$:

The ending cash balance on the company$$s books as of July $31$ was $$3,300.$

There were $$8,100$ in outstanding cheques.

There is a deposit in transit totaling $$6,300.$

The bank has an ending balance at the end of July of $$8,742.$

The bank had an NSF cheque worth $$900.$

There was a cheque that was correctly written for $$765$ by the company that was accidentally entered as $$567.$ This was used to pay down an accounts payable.

Bank Service Charges for July came to $$60.$

Customers had paid the bank directly $$4,800$ through electronic $($EFT payments$).$

Your tasks:

Prepare the Bank reconciliation for Polar Inc.

Record the general journal entries that should be made as the result of the reconciliation.

Option $2$:

Levinson Company has the following information for preparing the November $2021$ bank reconciliation:

The company$$s books had $$7,471$ of cash at the end of November.

There was $$37$ of bank service charges on the bank statement.

The bank statement had an NSF cheque for $$678$ that also had an extra fee of $$30$ on top of this due to this cheque bouncing.

$$7,246$ had been paid to Levinson directly by a customer, but had not yet hit the bank statement.

The ending bank balance on November $30$ for Levinson was $$5,300.$

An EFT transfer of $$2,300$ from a customer went directly into the bank account.

$$1,450$ of outstanding cheques are in the company$$s books but remain outstanding for the bank.

$$550$ was accidentally taken out of the account by the bank. This was supposed to be taken out of another company$$s bank account.

The company made an error when recording a payment for $$300.$ This cheque was accidentally recorded as $$3,000.$

Your tasks:

Prepare the Bank reconciliation for Levinson Company.

Answer the following question: What was the journal entry for the books for the transaction involving the deposit in transit and the $$2,300$ EFT transfer?