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Do May 31,2022. Pharoah Company had a cash balance per books of $6.731.95. The bank statement from New York State Bank on that date showed
Do May 31,2022. Pharoah Company had a cash balance per books of $6.731.95. The bank statement from New York State Bank on that date showed a balance of $6465,65. A comparison of the statement with the Cash account revealed the following facts 1 2 3 4 The statement included a debit memo of $52.00 for the printing of additional company checks Cash sales of $636,15 on May 12 were deposited in the bank. The cash receipts journal entry and the deposit slip were Incorrectly made for $686.15. The bank credited Pharoah Company for the correct amount Outstanding checks at May 31 totale $599.40. Deposits in transit were $235470. On May 18 the company issued check No 1181 for $676 to Lynda Carsen on account, The check which cleared the bank in May, was incorrectly foumalized and posted by Pharoah Company for $667 A $3100 note receivable was collected by the bank for Pharoah Company on May 31 plus $70 interest. The bank charged a collection fee of $20. No interest has been previously recorded on the note Included with the canceled checks was a check issued by Stiner Company to Ted Cress for $900.00 that was incorrectly charged to Pharoah Company by the bank. On May 31, the bank statement showed an NSF charge of $650.00 for a check Issued by Sue Alisona customer, to Pharoah Company on account 5. 6 7. Prepare the bank reconciliation at May 31, 2022. (Ustitems that increase cash balance first Round answers to 2 del pass 224525 PHAROAH COMPANY Bank Reconciliation acer 7 e DI o x estion 5 of 5 Bank Reconciliation $ $ 5 acer Prepare the necessary entries for Pharoah Company at May 31, 2022 Debit Credit Date Account Titles and Explanation May 31 (To record the collection of the note) May 31 (to record NSF check May 31 To record error in deposit May 31 To correct error in recording check) May 31 [To record check printing charge Textbook and Media acer 0 O K 9. *
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