Identify if the item should be included as a reconciling item in Windsor's bank reconciliation Indicate if a journal entry will be needed to correct any of the account for Windsor Journal Entry? Type of reconciling item 1 Deduct from the cash balance per book Yes 2 Deduct from the cash balance per books > A deposit of collections on account from customers was made, but the amount did not match what appeared on the bank statement The correct amount of $4.450, shown on the bank statement should have been used in Windsor's books instead of the amount recorded of $4551 Included on the bank statement is an automatic charge for Windsor Service's monthly mortgage payment. The amount of the payment was $820 of which $500 is principal. Windsor's bookkeeper always waits for the transaction to appear on the bank statement before recording it because the amount varies from month to month When retracing cheque payments to the journals during the bank reconciliation process, it was noticed that a $1,630 cheque, payable to Windsor Service's landlord for the current monthsrent was charged to Advertising Expense On the previous month's bank reconciliation an outstanding cheque for $420 for a final pay cheque of a part-time employee had not yet been cashed on the current month bank statement, the cheque has still not cleared the bank account Windsor has an agreement with RBC to collect notes receivable and any outstanding Interest on the unter Windende hai 3 Deduct from the cash balance per bank Yes 4 Deduct from the cash balance per bank > No 5. und Deduction the cash balance per books V Yes Deduct from the cash balance per bank Yes 4 Deduct from the cash botance per bank > No charge for Windsor Service's monthly mortgage payment. The amount of the payment was $820 of which $500 is principat Windsor's bookkeeper always waits for the transaction to appear on the bank statement before recording it because the amount varies from month to month 3. When retracing cheque payments to the journals during the bank reconciliation process it was noticed that a $1,630 cheque, payable to Windsor Service's landlord for the current month's rent was charged to Advertising Expense On the previous month's bank reconciliation, an outstanding cheque for $420 for a final pay cheque of a part-time employee had not yet been cashed. On the current month bank statement the cheque has still not cleared the bank account 5. Windsor has an agreement with RBC to collect notes receivable and any outstanding interest on the notes. Windsor's bookkeeper waits to record any collection until the amounts are reported by RBC, because it is not predictable how much of the collection will be interest. On the current bank statement, an entry appears for a deposit of $1.095 for a collection of a note with a principal amount of $1,005. Appearing on the bank reconciliation is a charge for an NSF cheque of $550 which had been deposited earlier in the month by Windsor as a payment on account by a new customer. RBC had added an additional charge of $19 for processing the NSF cheque. Because the customer was new. Windsor warned the customer that any NSF charges would be added to the amount owing from the customer 7 Acheque correctly issued in the amount of $490 as a payment on account to a supplier was incorrectly recorded in the books as $590 8 Two cheques totalling $327 which were outstanding at the end of the last month cleared In the current month's bank statement Included in the bank statement are charges of S32 for the use of debit cards by Windsor's customers. Windsor waits for the information to be processed by the bank before recording them in the books Add to the cash balance per boala Yes Deduct from the cash balance per boots
