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Bank Reconciliation Zing Corp. prepares monthly bank reconciliations as part of its cash controls. Zing's bank provided the following amount about Zing's cash balance at
Bank Reconciliation Zing Corp. prepares monthly bank reconciliations as part of its cash controls. Zing's bank provided the following amount about Zing's cash balance at the bank for the month of April 2020: $74,350 75 3,090 Balance, April 30, 2020 Service charge for April Note ($3,000) and interest ($90) collected for Zing from a customer Interest earned during April NSF check from Orange Corp. (deposited by Zing) for goods purchased on account 140 470 Zing then analyzed its cash balance on its own set of books, revealing the following details: $72,329 2,100 1,400 Checking account balance per Zing's books Deposit in transit at April 30 Outstanding checks as of April 30 Error in recording a check issued by Zing. (Correct amount of the check is $737, but was recorded as a cash disbursement of $773. The check was issued to pay for merchandise originally purchased on account.) Required: 1. Prepare a bank reconciliation at April 30, 2020, in proper form. Zing Corp. Bank Reconciation April 30, 2020 Cash balance from bank statement Add: Interest earned 3,266 Less: Service charge Adjusted cash balance Cash balance from company records Add: Less: Adjusted cash balance 2. Record any necessary adjusting journal entries. If an amount box does not require an entry, leave it blank. (Record bank service charge) OD (Record interest) (Record NSF check) (Record note receivable collected by bank) (Correct error in recording check)
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