Part $1$ of $7$

The August $31$ bank statement of Wollaston Healthcare has just arrived from Harrington Bank. To prepare the bank reconciliation, you gather the following data:

$($Click the icon to view the data.$)$

Read the requirements.

Requirement $1.$ Prepare the bank reconciliation for Wollaston Healthcare at August $31,2024.$

Requirements

Prepare the bank reconciliation for Wollaston Healthcare at August $31,2024.$

Journalize any required entries from the bank reconciliation. Include an explanation for each entry.

Data table

a$.$ The August $31$ bank balance is $$5,810.$

b$.$ The bank statement includes two charges for NSF checks from customers. One is for $$430($#$1),$ and the other is for $$120($#$2).$

c$.$ The following Wollaston Healthcare checks are outstanding at August $31$:

$\backslash$table$[[$Check No$.,$Amount$],[$Check No$.237,$$ $120],[$Check No$.288,210],[$Check No$.291,590],[$Check No$.294,590],[$Check No$.295,50],[$Check No$.296,140]]$

d$.$ Wollaston collects from a few customers by EFT. The August bank statement lists a $$1,600$ EFT deposit for a collection on account.

e$.$ The bank statement includes two special deposits that Wollaston hasn't recorded yet: $$1050$ for dividend revenue, and $$90$ for the interest revenue Wollaston earned on its bank balance during August.

f$.$ The bank statement lists a $$40$ subtraction for the bank service charge.

g$.$ On August $31,$ the Wollaston treasurer deposited $$290,$ but this deposit does not appear on the bank statement.

h$.$ The bank statement includes a $$750$ deduction for a check drawn by Multi$-$State Freight Company. Wollaston notified the bank of this bank error.

i$.$ Wollaston's Cash account shows a balance of $$3,000$ on August $31.$

Check ans:

Ive this

Etext pages