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Crisp Company reconciled its bank statement and book balance of Cash on July 31, 2021 and showed two outstanding cheques at that time, #139 for
Crisp Company reconciled its bank statement and book balance of Cash on July 31, 2021 and showed two outstanding cheques at that time, #139 for $630.50 and #145 for $570.00. The July 31 bank reconciliation also showed a $500.00 deposit in transit. The following information was available for the August 31, 2021 reconciliation: From the August 31, 2021, bank statement: Bank Statement - Crisp Company August 31, 2021 Cheques / Charges Deposits / Credits 07/31 #139 8/01 630 50 8/01 500.00 #146 8/05 3,150.30 8/05 9,000.50 #148 8/26 2,000.00 8/12 8.500.30 NSF 8/15 228.00 #149 8/19 14.071.60 8/26 9,850.10 SC 8/31 50.00 8/31 INT 14.20 NSF - Not sufficient funds SC - Service charge INT = Interest Balance 3,860.10 3,719.60 9,569.80 16,070.10 15,842.10 11,620.60 11,684.80 CM - Credit Memo From Crisp Company's accounting records: Acct No. 101 Balance Credits General Ledger: Cash Account Date Debits 2021 July 31 August 31 $30,500 40 August 31 $3,149.60 33.650.00 $8,652 80 $24,997 20 Deposits Made August 5 $9 000.50 August 12 8.500.30 August 26 9,850.10 August 30 3.14950 Total deposits $30,500.40 Cheques Written 3146 $3.150.30 #147 5.775.30 #148 2.000.00 #149 14 07160 Total Cheques S24.99720 The NSF (returned cheque) belonged to Joe Rude. REQUIRED 1. Prepare the August 31, 2021 bank reconciliation for Crisp Company, 2. Prepare the necessary General Journal entries from the bank reconciliation
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