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On Aug 31, 2019, Toto Company had a cash balance per books of $6850. The bank statement from Arab Bank on that date showed a
On Aug 31, 2019, Toto Company had a cash balance per books of $6850. The bank statement from Arab Bank on that date showed a balance of $6970. A comparison of the statement with the Cash account revealed the following facts The statement included a debit memo of 60 for the printing of additional company checks.1 Cash sales of 776 on Aug 12 were deposited in the bank. The cash receipts journal entry and the deposit slip were incorrectly.2 made for 677. The bank credited correct amount Outstanding checks at Aug 31 totaled 5. Deposits in transit were $1900.3 A 53500 note receivable was collected by the bank For Company on Aug 31 plus $100 interest. The bank charged a collection fee 4 of $40 On Aug 31. the bank statement showed an NSF charge of $1700 for a check issued by Sandy Grifton, a customer, to Toto 5 Company on account Required Prepare the bank reconciliation at Aug 31, 2019.1 Prepare the necessary adjusting entries for Toto Company at Aug 31,2019-2
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