exercise:

On May 31 Reber company had a cash balance per books of $6781.5.The bank statement from NY state bank on that date showed a balance of $ 6404.60. A comparison of the statement with the cash account revealed the following facts:

1. The statement include a debit memo of $40 for the printing of additional company checks.

2. Cash sales of $836on May 12 were deposited in the bank. The cash receipts journal entry and the deposit slip were incorrectly made for $886.15. The bank credited Reber Company for the correct amount.

3. Outstanding checks totaled $576.25. Deposits in transit were $2416.15.

4. On May 18, the company issued check number 1181 for $685 to Lynda Carsen on account. The check, which cleared the bank in May was incorrectly journalized and posted by Reber Company for $658.

5. A $3000 note receivable was collected by bank for Reber company on May 31 , plus $80 interest . The bank charged a collection fee $20.

6. Included with the cancelled checks was a check issued by Stiner company to Ted Chris for $800 that was incorrectly charged to Reber Company by the bank .

7. On May 31 , the bank statement showed an NSF charge of $680 for a check issued by Sue Allisson , a customer , to Reber company on account

Required:

a.Prepare a bank reconciliation

b.Journalize the adjusting entriesrcises