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*Problem 7-13 The cash account of Wildhorse Co. showed a ledger balance of $13,324.69 on June 30, 2017. The bank statement as of that date
*Problem 7-13 The cash account of Wildhorse Co. showed a ledger balance of $13,324.69 on June 30, 2017. The bank statement as of that date showed a balance of $14,110.00. Upon comparing the statement with the cash records, the following facts were determined There were bank service charges for June of $85.00 A bank memo stated that Bao Dai's note for $4,080.00 and interest of $122.40 had been collected on June 29, and the bank had made a charge of $18.70 on the collection. (No entry had been made on Wildhorse's books when Bao Dai's note was sent to the bank for collection.) 1. 2. 3. Receipts for June 30 for $11,526.00 were not deposited until July 2 4. Checks outstanding on June 30 totaled $7,262.57 5. The bank had charged the Wildhorse Co.s account for a customer's uncollectible check amounting to $860.88 on June 29 . A customer's check for $306.00 (as payment on the customer's Accounts Receivable) had been entered as $204.00 in the cash receipts journal by Wildhorse on June 15 Check no. 742 in the amount of $491.00 had been entered in the cash journal as $419.00, and check no. 747 in the amount of $197.88 had been entered as $1,978.80. Both checks had been issued to pay for purchase of equipment and were payments on Wildhorse's Accounts Payable 7. Prepare a bank reconciliation dated June 30, 2017, proceeding to a correct cash balance. (Enter answers to 2 decimal places, e.g. 125.62.) WILDHORSE CO. Bank Reconciliation June 30, 2017 Add: Less Prepare entries necessary to make the books correct and complete. Use Office Expense account for bank service charges. (Enter answers to 2 decimal places, e.g 125.62. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
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