Following is the adjusted trial balance of Post Company. Based on this information prepare a Balance Sheet, Income Statement of Retained Earnings:

Post Company

Adjusted Trial Balance

Debit Credit

Cash 80,000

Accounts Receivable 12,000

Prepaid Insurance 2,000

Equipment 4,000

Accumulated Depreciation 100

Supplies 400

Accounts Payable 800

Wages Payable 200

Unearned Revenue 1,200

Contributed Capital 82,400

Retained Earnings 0

Sales 16,000

Gas Expense 200

Supply Expense 400

Insurance Expense 400

Depreciation Expense 100

Wage Expense 200

Dividends 1,000

Debit Credit

100,700 100,700

Post Inc. Bank Reconciliation:

Cash balance per bank $8,200

Cash balance per books (general ledger) $6,500

Outstanding checks $2,460

Check mailed to the bank for deposit had $500

not reached the bank by the statement date.

NSF check returned by the bank for $100

accounts receivable.

July interest earned on the bank statement $20

Check no. 700 for musc. expense cleared

the bank for $200; erroneously recorded

in the Matrix books for $20

Prepare a bank reconciliation.

Show the accounting entries that must be made by Matrix in journal and T-account format.