1. Entity A is preparing its November 30, 20x1 bank reconciliation statement. The following information was determined:

• Cash balance per accounting books, Nov. 30, 20x1 600,000
• Cash balance per bank statement, Nov. 30, 20x1 860,000
• Credit memo 380,000
• Debit memo 60,000
• Deposits in transit 100,000
• Outstanding checks 40,000

Requirement:Prepare the bank reconciliation.

1. Entity A is preparing its February 28, 20x1 bank reconciliation statement. The following information was determined:

• Cash balance per accounting books, Feb. 28, 20x1 260,000
• Cash balance per bank statement, Feb. 28, 20x1 205,000

When investigating the difference, the accountant determined the following:

1. A customer deposited 30,000 to Entity A's bank account as payment for an account receivable. This is not yet recorded in the books of accounts.
2. A 102,500 check deposited by Entity A during the month is not yet credited to Entity A's account.
3. A check drawn in the amount of 22,500 is not yet presented to the bank for payment.
4. The bank returned a check deposit amounting to 5,000 because of insufficiency in the funds of the drawer. The check was received from a customer as payment for accounts receivable.

Requirements:

1. Prepare the bank reconciliation.
2. Prepare the adjusting (reconciling) entries.