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MUST PREPARE BANK RECONCILIATION.......................... Q2. The following data has been gathered for Taylor Enterprises for the month ended November 30, 2018: The bank statement reveals
MUST PREPARE BANK RECONCILIATION..........................
Q2. The following data has been gathered for Taylor Enterprises for the month ended November 30, 2018: The bank statement reveals a balance of $3,890 The November 30, 2018, book balance was $1,480 There was an EFT deposit of $800 on the bank statement for a rental property. The bookkeeper had erroneously recorded cheque #101 as $450 cheque instead of $540. The cheque was to settle accounts payable. The bank statement revealed $190 in service charges. Cheques #103, #105, #115 and #133 for $55, $885, $681 and $39 were not returned with the bank statement. A deposit made on November 17, 2018, for $350 did not appear on the bank statement. A deposit of $1,450 made on November 10 was erroneously credited to Taylor Inc. account by the bank for $1,540. A bank debit memo indicated an NSF cheque from a customer for $100. There was an EFT receipt of $590 for interest income earned on investment. Required a) Prepare a bank reconciliation for Taylor Enterprises for November 30th b) Record the journal entriles that Taylor Enterprises should record on November 30th to COM204.C1001&C1005. 2021 Spring Assignment #3 (Ch4&5) Due on March 5 update their Cash Account. Include any explanation for each entryStep by Step Solution
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