P7-13

The cash account of Aguilar Co. showed a ledger balance of $3,969. 85 on June 30,2014. The bank statement as of that date showed a balance of $4,150. upon comparing the statement with the cash records, the following facts were determined. There were bank service charges for June of $25. A bank memo stated that Bao Dai's note for $1,200 and interest of $36 had been collected on june 29, and the bank had made a charge of $5. 50 on the collection (No entry had been made on Aguilar's books when when Bao Dai's note was sent to the bank for collection.) Receipts for June 30 for $3,390 were not deposited until July 2. Checks outstanding on June 30 totaled $2,136. 05. The bank had charged the Aguilar Co. 's account for a customer s uncollectible check amounting to $253. 20 on June 29. A customer's check for $90 had been entered as $60 in the cash receipts journal by Aguilar on June 15. Check no. 742 in the amount of $491 had been entered in the cash journal as $419, and check no. 747 in the amount of $58. 20 had been entered as $582 Both checks he'd been issued to pay for purchases of equipment. Prepare a bank reconciliation dated June 30,2014, proceeding to a correct cash balance. Prepare any entries necessary to make the books correct and complete