On 30 June 2020, Serena Ltds general ledger Cash account had a normal balance of $15,004.30. The bank statement from ANZ on that date showed a credit balance (from the banks perspective) of $20,915.00. A comparison of the statement with the accounting records and the bank reconciliation for May revealed the following facts:

1. Two cheques, totalling $1,780.10, from the May bank reconciliation had still not been presented to the ANZ.

2. Cash sales of $2,945 on 20 June were deposited in the bank. The cash receipts journal entry was incorrectly recorded as $2,954. The bank credited Serena Ltd for the correct amount.

3. On 24 June Serena Ltd issued cheque no. 3485 for $540.80 to Tee Lee, in payment for a credit purchase. No discount had been offered by Lee. The cheque, which cleared the bank on 28 June, was incorrectly recorded in the accounting records as $450.80.

4. June outstanding cheques totalled $3,577.10.

5. A $3,000 note receivable was collected by the bank for Serena Ltd on 15 June. Interest of $80 was also collected. The bank deducted a collection fee of $20 from the proceeds. Interest of $45 had been accrued in the accounting records the end of May.

6. The bank statement showed a debit entry for $647.10 for a dishonoured (NSF) cheque written by N. Brown, a customer, to Serena Ltd. This cheque will not be re-deposited because Brown is expected to make an internet transfer to Serena Ltd in July. The bank statement also showed a debit entry for $580 for another NSF cheque. The bank had sent this cheque back to Serena Ltd on June 28, but Serena Ltd, expecting the cheque to clear this time around, re-deposited the cheque on June 30. The $580 thus is included in the deposit in transit figure mentioned in (vii).

7. June deposits in transit were $1,790.40.

8. The bank statement also showed a monthly service fee charge of $15 and interest earned of $45 credited to the account.

Required:

Prepare the June bank reconciliation in good form and according to the format prescribed in this course. You do not have to prepare journal entries, but you may assume that they have been posted and the accounts updated.