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Question 5 - Prepare bank reconciliation and required adjusting journal entries for Sun Company for Oct 31, 2020 using the following information: 40 marks .
Question 5 - Prepare bank reconciliation and required adjusting journal entries for Sun Company for Oct 31, 2020 using the following information: 40 marks . . The balance on the Oct 31, 2020 bank statement is $42,229. The balance on the cash account in the book on Oct 31, 2020 is $35.344. The accountant mistakenly recorded a $384 cash receipt as $224. The bank mistakenly recorded a deposit of $4,100 made by a different company into Sun Company's account on Oct 20, 2020. The bank statement indicated bank service charges of $54 for Oct 31, 2020. Outstanding cheques as of Oct 31, 2020, amount to $3.894. Deposits in transit as of Oct 31 2020, amount to $1150. Bank charged $65 for an NSF cheque
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