QUESTION 2

Consider the following information relating to the Cash account of Silver Company as of June 30:

1 Outstanding checks:

Number 479 $ 527

Number 486 390

Number 490 650

2 Check number 485 (for Repairs Expense was written for $323 but erroneously recorded in Silver's records as $233 Difference 90

3 Deposit in transit $ 2,325

4 Note collected by bank

As agent of Silver $ 2,000

(no interest)

5 Non-sufficient funds (NSF) check of D. Chan $ 995

6 Bank service charge $ 45

A partially completed bank reconciliation is also available: