Question
On May 31, 2021, the Cash account of Gowganda Supply Company (GSC) had a balance of$43,708. On that date, the bank statement indicated a balance
On May 31, 2021, the Cash account of Gowganda Supply Company (GSC) had a balance of$43,708. On that date, the bank statement indicated a balance of $54,600.
2.Outstanding cheques amounted to $13,400.3.The May 31 cash receipts for $8,900 were deposited but were only processed by the bank afterMay 31.
4.A debit memorandum of $8 representing bank charges appeared on the bank statement.5.The bank reported an EFT credit memorandum for the collection of a receivable from FrankEdgar of $6,300.
6.The bank incorrectly recorded a cheque payment of $600 as $500.
Instructions
Prepare a bank reconciliation for GSC as at May 31, 2021
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