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Organic Food Co.'s cash account shows a $6,100 debit balance and its bank statement shows $5,580 on deposit at the close of business on August
Organic Food Co.'s cash account shows a $6,100 debit balance and its bank statement shows $5,580 on deposit at the close of business on August 31. a. August 31 cash receipts of $1,840 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement. b. The bank statement shows a $180 NSF check from a customer; the company has not yet recorded this NSF check. c. Outstanding checks as of August 31 total $1,720. d. In reviewing the bank statement, an $140 check written by Organic Fruits was mistakenly drawn against Organic Food's account. e. The August 31 bank statement lists $80 in bank service charges; the company has not yet recorded the cost of these services. Prepare a bank reconciliation using the above information
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