1. Roper Electronics received its bank statement for the month of August with an ending balance of $11,740. Roper determined that Check No. 613 for $155 and Check No. 601 for $420 were both outstanding. Also, a $6,900 deposit for August 30 was in transit as of the end of the month. Northern Regional Bank also collected a $5,000 notes receivable on August 1 that was issued March 1. Accrued interest is $250. Northern Regional Bank charged a $35 fee for the collection service. The bank statement reveals a bank service charge of $20. A customer check for $68 was returned with the bank statement marked "NSF." The ending balance of the Roper cash account is $12,938.
2. Prepare a bank/account reconciliation and any necessary journal entries for the reconciliation.
3. Roper ElectronicsBank ReconciliationAugust 31Cash balance according to bank statement$Add deposit in transit
4. Add note receivable
5. Adjusted balance$Cash balance according to Roper Electronics$
10. Adjusted balance$
11. Record the entry to increase cash first. For a compound transaction, If an amount box does not require an entry, leave it blank.
12. Aug. 31Cash
13. Bank Service Charge Expense
14. Interest Revenue
15. Aug. 31
17. Aug. 31
19. Aug. 31