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I need the answers ASAP please. QUESTION 1 On September 30, 2019, Blue Sky company had a cash balance per books of $71,483. The bank
I need the answers ASAP please.
QUESTION 1 On September 30, 2019, Blue Sky company had a cash balance per books of $71,483. The bank statement from New York State Bank on that date showed a balance of $72,877. A comparison of the statement with the cash account revealed the following: 1. Cash sales of $4,829 on September 11 were deposited in the bank. The cash receipts journal entry and the deposit slip were incorrectly made for $4,329. The bank credited Blue Sky company for the correct amount. 2. Outstanding checks on September 30 totalled $3,961. 3. Bank collected $2,100 note for Blue Sky Company in September, plus interest $100. The collection fees were $65. The collection has not been recorded by Blue Sky, and no interest has been accrued. 4. On September 16, the company issued check no. 342 for $4,575 to Mark Stewart on account. The check which cleared the bank in September, was incorrectly journalized and posted by Blue Sky company for $4,875. 5. The statement included a debit memo of $23 for the printing of additional company checks. 6. Included with the cancelled checks was a check issued by Dreams company to William David for $1,552 that was incorrectly charged to Blue Sky company by the bank. 7. September 30 deposits of $2,384 (Received by bank on October 1). 8. On September 30, the bank statement showed an NSF charge of $1,543 for a check issued by Tim Allison, a customer, to Blue Sky company on account. Prepare the Blue Sky company Bank reconciliation statement for September 2019Step by Step Solution
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