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Cowboy Company's bank statement for June 30 showed a cash balance of $26,890. The company's general ledger Cash account showed a $20,675 debit balance.
Cowboy Company's bank statement for June 30 showed a cash balance of $26,890. The company's general ledger Cash account showed a $20,675 debit balance. The following information was also available as of June 30: 1. A deposit placed in the bank's night depository on June 30 totaled $3,600. The deposit did not appear on the bank statement. 2. A debit memo included in the bank statement shows a $400 NSF check from a customer, J. Doe. 3. Outstanding checks as of June 30 totaled $4,700 4. Included in the bank statement was a debit memorandum in the amount of $45 for bank service charges. These charges had not been recorded on the company's books. 5. A customer's note for $5,600 was collected by the bank. 6. Examination of the checks on the bank statement with the entries on the accounting records reveals the check #345 for the payment of an utility expense was correctly written and drawn for $540, but was recorded in the accounting records as $450. 7. Included with the bank statement was a credit memorandum in the amount of $50 for interest deposited into Cowboy Company's bank account. Based on the above information, prepare the June bank reconciliation and necessary adjusting journal entries for Cowboy Company. 7 A B I U - I ==
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