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Cowboy Company's bank statement for June 30 showed a cash balance of $8,652. The company's general ledger Cash account showed a $6,933 debit balance. The
Cowboy Company's bank statement for June 30 showed a cash balance of $8,652. The company's general ledger Cash account showed a $6,933 debit balance. The following information was also available as of June 30: 1. A customer's note for $900 was collected by the bank. 2. A deposit placed in the bank's night depository on June 30 totaled $3,456. This deposit did not appear on the bank statement. 3. Outstanding checks as of June 30 totaled $4,560. 4. Included with the bar "statement was a debit memorandum in the amount of $25 for bark service charges. These charges had not been recorded on the company's books. 5. Examination of the checks on the bank statement with the entries in the accounting records reveals that check #345 for the payment of an utility expense was correctly written for $780, but as recorded in the accounting records as $870. 6. A debit memo included with the bank statement shows a $350 NSF check from a customer, J. Doe. Based on the above information, prepare the June bank reconciliation and necessary adjusting journal entries for Cowboy Company
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