CH 8 REVIEW-Bank Reconciliation for JAMMIN CO. Use the following information to reconcile book balance of cash with the bank statement balance. Prepare a bank reconciliation for Jammin Co. for the month ended 11/30/10. Record the journal entries necessary to record adjustments. 1. After all company daily activities were recorded for November, the company's 11/30/10 debit balance in the Cash account was $16,380, and the bank statement showed an ending balance of $38,520. 2. Checks #2024 for $4,810 and #2026 for $5,000 are outstanding (did not clear the bank). 3. After comparing cancelled checks on the bank statement to records in the books, it was found that Check #2025, payment for rent, correctly cleared the bank for $1,000 but was erroneously entered into the books as $880. 4. An 11/30 deposit for $17,150 was placed in the night depository, but did not appear on the bank statement. 5. Upon reviewing the bank statement, it was discovered that a check written by Jake Co. for $160 was erroneously drawn from Jammin Co.'s bank account. 6. A bank credit memorandum indicates that the bank collected a $30,000 note and $900 of related interest on behalf of Jammin Co. 7. A bank debit memorandum lists a $1,100 NSF check received from customer Lim Tai. 8. Bank service charges for November totalled $40. I BANK BANK RECONCILIATION-Jammin Co. Cash IN Cash OUT Bank Bal Cash IN BOOKS Cash OUT Book Bal JE Date: ADJUSTING JOURNAL ENTRIES Accounts and Description Debit Credit Record only BOOK reconciling items