Question 1 [35 points] Consider the following information and prepare a bank reconciliation, along with any resulting journal entries, for Dylex Corporation for the month ended June 30, 2015. Please enter journal entries for each of the following, if required. 1. Outstanding deposit 2. Interest earned 3. NSF cheque 4. Bank service charge 5. Error 6. Notes receivable collected 7. Outstanding cheque ... 18,506 Bank statement balance.... Add: Outstanding deposit Dylex Corporation Bank Reconciliation May 31, 2015 18,100 Book balance Add: 1,300 Interest earned. 19,400 Deduct: Bank service charge... 900 18,500 Adjusted book balance 18,515 Deduct: Outstanding cheques: #501 Adjusted bank balance 18,500 Bank Statement To: Dylex Corporation Cheques/Charges/Debits June 30, 2015 Deposits/Credits June 5, 2015 June 10, 2015 June 15, 2015 June 18, 2015 1,300 1,150 1,150 1,450 #501 June 20, 2015 #511 June 20, 2015 #510 June 20, 2015 #512 June 20, 2015 #513 June 20, 2015 #509 June 25, 2015 NSF June 25, 2015 Bank service charge June 30, 2015 900 850 1,150 1,250 872 1,100 400 15 Balance 18,100 18,500 18,800 18,800 19,000 18,128 17,028 16,628 16.628 Interest earned 15 Cheque #513, for office supplies in the amount of $872 was recorded in the Cash Disbursements Journal incorrectly as $827. The NSF cheque for $400 was that of a customer. Debit Cash Date Desc. PR 31/May Balance 30/Jun CR10 30/Jun CD12 Account No. 101 Credit Balance 18,500 23,300 8,377 14,923 510... 4,800 512 Cheques Written No. 509.. ................................ 1,100 .................. 1,150 511.. 850 1,250 513 514 950 515 1,200 516 1,050 Total Cash Disbursements in June 8,377 827 Deposits Made June 10 15 ... ... 1,150 ... 1.150 1,450 1,050 4,800 ................ 30 Total Cash Receipts in June... a) Prepare a bank reconciliation, for Dylex Corporation for the month ended June 30, 2015. Dylex Corporation Bank Reconciliation June 30, 2015 Bank statement balance................... Book balance....--- Add: Add: + Deduct: Deduct: Outstanding cheques: + = Adjusted bank balance............. Adjusted book balance. b) Prepare resulting journal entries, if any. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). General Journal Page GJ3 Date Account/Explanation F Debit Credit +