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question #15 checks at February 28. 15. Prepare Bank Reconciliation LO3 cKnight Company's June 30 bank statement shows a balance of $14,750. McKnight's books show

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question #15

checks at February 28. 15. Prepare Bank Reconciliation LO3 cKnight Company's June 30 bank statement shows a balance of $14,750. McKnight's books show a June 30 cash balance of $13,600. McKnight also has the following information: 1. Deposits in transit as of June 30, $1,000 2. Outstanding checks as of June 30, $2,500 3. $100 service charge reported on the bank statement 4. NSF check returned with bank statement, $1,500 5. Interest on note receivable collected by the bank $1,250 Required Prepare McKnight's bank reconciliation as of June 30 and prepare any necessary journal entries result- ing from the reconciliation. What is the actual cash balance that should be reported on the June 30 balance sheet

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