problem 11-4B

Problem 84B The cash receipts and the cash payments of Ace Hardware for January 2017 are as follows:

The Cash account of Ace Hardware shows a balance of $39,478 at January 31, 2017.

Ace Hardware received the following bank statement on January 31, 2017:

Bank Statement for January 2017
Description	Withdrawals	Deposits	Date	Balance
Balance Forward			Jan01	36,684
EFT Dividend Collection		1,052	Jan01	37,736
Deposit		20,988	Jan04	58,724
Chq#00311	3,672		Jan07	55,052
Deposit		1,480	Jan09	56,532
Deposit		1,980	Jan12	58,512
Chq#00313	12,436		Jan13	46,076
NSF Cheque	3,456		Jan14	42,620
Chq#00312	1,668		Jan15	40,952
Deposit		7,788	Jan17	48,740
Chq#00314	2,584		Jan18	46,156
EFT Insurance	1,316		Jan21	44,840
Bank Collection		12,744	Jan22	57,584
Deposit		20,736	Jan23	78,320
Chq#00315	8,588		Jan26	69,732
Chq#00316	3,900		Jan30	65,832
Service Charge	40		Jan31	65,792
	37,660	66,768

Additional data for the bank reconciliation:

1. The EFT deposit was a receipt of monthly rent. The EFT debit was payment of monthly insurance.

2. The NSF cheque was received from A. Levine.

3. The $12,744 bank collection of a note receivable on January 22 included $200 interest revenue.

4. The correct amount of cheque #313, a payment on account, is $12,436. (Ace Hardwares accountant mistakenly recorded the cheque for $12,562.)