Question
Question 6 The following information was available for Anderson Company for the month ended May 31, 2020. (a) On May 31, 2020, the book balance
Question 6 The following information was available for Anderson Company for the month ended May 31, 2020.
(a) On May 31, 2020, the book balance was $3,890.22 and the bank balance was $5,760.22.
(b) Outstanding cheques amounted to $6,310.
(c) The May 31st cash receipts of $5,600 were deposited but have not yet appeared on the bank statement.
(d) A $50 debit memorandum for cheques printed by the bank was included in the bank statement.
(e) A customers note for $1,000 was collected by the bank. In addition, interest on the note was $110.
(f) The bank incorrectly recorded a cheque payment of $1,600 as $1,500. Required: Prepare a bank reconciliation for Anderson Company at May 31, 2020 and prepare the journal entries for the book adjustments.
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