Question
Prepare a bank reconciliation as of 3/31/2020 from the below information: a. The 3/31 balance in the companys general ledger is $8,000. b. The 3/31
Prepare a bank reconciliation as of 3/31/2020 from the below information:
a. The 3/31 balance in the companys general ledger is $8,000.
b. The 3/31 balance shown on the bank statement is $9,500.
c. Checks issued but not returned with the bank statement totaled $1,000.
d. A deposit made late on 3/31 for $1,500 was included in the general ledger balance but not in the bank statement balance.
e. Returned with the bank statement was a notice that customers check for $55 that was deposited on 3/31 was returned because the customers account was overdrawn.
f. Interest credited to the account during March but not recorded on the companys books was $85, and a bank service fee of $30 was charged.
g. After reviewing the account activity, the customer noted that it erroneously recorded a $22,000 bank deposit as a $20,000 deposit in its general ledger.
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