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On November 30, 2019, SNOW-WHITE COMPANY had a cash balance per books of SAR 16,000 the bank statement from The SAMBA Bank on that date
On November 30, 2019, SNOW-WHITE COMPANY had a cash balance per books of SAR 16,000 the bank statement from The SAMBA Bank on that date showed a balance of SAR 15,000. A comparison of the statement with cash account revealed the following facts The bank statement showed an NSF charge of 2,800 for a check issued by Ali, a customer, SNOW-WHITE COMPANY on account. The bank collected SAR 5,800, 5-month, 12% note for the company on Nov. 30. The bank charged SAR 90 collection fee. No interest has been accrued. On November 22 the company issued a check No. 262 for SAR 20,200 to Alfa co. on account. The check was incorrectly journalized and posted by SNOW-WHITE COMPANY for 22,000 Deposit in Transit at Nov. 30 total SAR 4,000 Instruction 1- prepare the bank reconciliation at Nov. 30 2- prepare the necessary adjusting entries for SNOW-WHITE COMPANY at Nov. 30
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