Question
On April 8, 2021, Jerry Logistics received its monthly bank statement dated March 31, 2021, showing a final account balance of $55,620. However, as of
On April 8, 2021, Jerry Logistics received its monthly bank statement dated March 31, 2021, showing a final account balance of $55,620. However, as of that date, the company records showed a balance of $59,960. Other items were as follows:
a. All outstanding cheques that had appeared on the February 28 bank reconciliation had been processed by the bank during March. However, five March cheques sent out by Jerry Logistics totaling $3,800 were not shown on the March 31 bank statement.
b. A deposit made by the company at the end of the day on March 31, totaling $10,200, was not shown on the bank statement.
c. Service charges of $20 were shown on the bank statement.
d. A customers cheque for $170 that had been deposited by the company in March was returned, marked NSF.
e. During March, the bank debited the companys account for $750, which was for a regular loan payment. This item appeared on the bank statement, but not yet in the company records. Remember that to the bank, a debit means money withdrawn.
f. On March 29, the bank collected $3,000 on a Note Receivable for Jerry Logistics, and deposited the money into the bank account.
g, Create a bank reconciliation in proper format for Jerry Logistics as of March 31, 2021.
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