raw Design Layout References Mailings Review View Tell me Shi Pane 12 Aa AOE E 211 abx OA Styles Styles Problem 7-3B. (This problem is NOT in your textbook) DCo spreads herbicides and applies liquid fortilizer for local farmers On May 31, 2017, the DCO's Cash account per its general ledger had this balance CASH Dato Explanation Ref. Debit Credit Balance May 31 Balance 13.287 The bank statement from State Bank on that date showed the following balance. STATE BANK Checks and Debits Deposits and Credits Daily Balance XXX 5/31 13,332 A comparison of the bank statement with the Cash account revealed the following facts. 1. The statement included a debit memo of $35 for the printing of company checks. 2. Cash sales of $1,720 on May 12 were deposited in the bank. The cash receipts Journal entry and the deposit slip were incorrectly made for $1,820. The bank credited Dco for the correct amount. 3. Outstanding checks at May 31 totaled $1,225, and deposits in transit were $2,600. 4. On May 18, the DCo issued check no. 1181 for $911 to J.Smith on account. The check which cleared the bank in May, was incorrectly journalized and posted by DC for $119. 5. A $4,500 note receivable was collected by the bank for DCo on May 31 plus $80 interest. The bank charged a collection fee of $25. No interest has been accrued on the note. 6. Included with the canceled checks was a check issued by Matray. Company to Terry Irvin for $900 that was incorrectly charged to DCo by the bank. 7. On May 31, the bank statement showed an NSF charge of $1,308 for a check issued by Peter Reser, a customer, to DCo on account. Instructions (a) Prepare the bank reconciliation at May 31, 2017. Working Papers Below (a) DCO Bank Reconciliation May 31, 2017 Cash balance per bank statement 13,332 T Design Layout References Mailings Review View. Tell me SH 12 A A Aa v. A 21 91 A. ab * A 2 1 Styles Style: Pane 4. On May 18, the DC issued check no. 1181 for $911 to J.Smith on account. The check, which cleared the bank in May, was incorrectly Journalized and posted by DCo for $119. 5. A $4,500 note recevable was collected by the bank for DCo on May 31 plus $80 interest. The bank charged a collection fee of $25. No interest has been accrued on the note. 6. Included with the canceled checks was a check issued by Moccay Company to Terry Irvin for $900 that was incorrectly charged to DCo by the bank. 7. On May 31, the bank statement showed an NSF charge of $1,308 for a check issued by Peter Reser, a customer, to DCo on account. Instructions (a) Prepare the bank reconciliation at May 31, 2017. Working Papers Below (a) DCO Bank Reconciliation May 31, 2017 Cash balance per bank statement 13,332 Adjusted cash balance per bank 15,607 Cash balance per books 13,287 15,607 Adjusted cash balance per books * 911 - 119 FYI: This (below) is NOT the homework. It is the answer to Prob 7-2A and Prob 7- English (United States) Focus words DIK