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iller Corporations December 31, 2019, bank statement showed a $2,045.25 balance. On this date, Millers Cash account reflected a $348.80 overdraft. In reconciling these amounts,
iller Corporations December 31, 2019, bank statement showed a $2,045.25 balance. On this date, Millers Cash account reflected a $348.80 overdraft. In reconciling these amounts, the following information is discovered:
1. | Cash on hand for undeposited sales receipts, December 31, $132.25. |
2. | Customer NSF check returned with bank statement, $422.20. |
3. | Cash sales of $637.25 for the week ended December 18 were recorded on the books. The cashier reports this amount missing, and it was not deposited in the bank. |
4. | Note receivable of $2,500.00 and interest of $25 collected by the bank and not recorded on the books. |
5. | Deposit in transit December 31, $320.00. |
6. | A customer check for $290.40 in payment of its account was recorded on the books at $940.20. |
7. | Outstanding checks, $2,030.55. Includes a duplicate check of $64.85 to C. Brown, who notified Miller that the original was lost. Miller stopped payment on the original check and has already adjusted the cash account in the accounting records for this amount. |
Required: | |
1. | Prepare a December 31 bank reconciliation for Miller. |
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