Intermediate acctouning

Bank reconciliation

The following information pertains to the Cash account of Pierson Corporation for the month of November 2016. The November 30 cash balance according to the bank statement is $22, 639.54. The November 30 balance per the general ledger account is $24.981.35. Checks written and entered in the accounting records in November that were not reflected as checks processed by the bank are as follows: #257 $42.17, #27] $ 120.10, #272, $80.82. Bank service charges for November of $15.00 were reflected on the November bank statement. A deposit of $4.245.40 on November 30 that was recorded in the accounting records was not reflected on the November bank statement. An NSF check for $184.50 from Diane Smith was charged to Pierson's account on the November bank statement. The bank also charged Pierson a $20.handling fee for the bad check of which Pierson w ill charge back to Mrs. Smith. The bank collected a note receivable of $2,000.00 and related interest of $60.00 and deposited it to Pierson's account on the Nov ember bank statement These amounts were not previously recorded in the accounting records. Pierson Corporation incorrectly recorded check #256 for $131 when the correct amount was $311 in payment for an accounts payable