Question
Conneaut Lake Boat Company's bank statement for the month of September 2021 showed a balance per bank of $7,000. The company's Cash account in the
Conneaut Lake Boat Company's bank statement for the month of September 2021 showed a balance per bank of $7,000. The company's Cash account in the general ledger had a balance of $5,459 at September 30. Other information is as follows:
1.Cash receipts for September 30 recorded on the company's books were $5,200 but this amountdoes not appear on the bank statement.
2.The bank statement shows a debit memorandum for $50 for cheque printing charges.
3.Cheque No. 119 payable to Lynch Company was recorded in the general journal and cleared thebank for $248. A review of the Accounts Payable subsidiary ledger shows a $36 credit balance in the account of Lynch Company and that the payment to it should have been for $284.
4.The total amount of cheques still outstanding at September 30 amounted to $6,000.
5.Cheque No. 138 was correctly written and paid by the bank for $409. The cash payment journalreflects an entry for Cheque No. 138 as a debit to Accounts Payable and a credit to Cash in Bank for $490.
6.The bank returned an NSF cheque from a customer for $550.7.The bank included a credit memorandum for $1,260 which represents an EFT collection of acustomer's account.
Instructions
a)how do i put together a bank reconciliation for Conneaut Lake Boat Company at September 30, 2021.
b)what journal entries are necessary as a result of the bank reconciliation
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