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Sheffield Coffee Limited's bank statement for the month of November 2022 showed a balance per bank of $7,160. The company's general ledger Cash account showed
Sheffield Coffee Limited's bank statement for the month of November 2022 showed a balance per bank of $7,160. The company's general ledger Cash account showed a balance of $5,819 at November 30 . Other information is as follows: 1. Cash receipts for November 30 recorded on the company's books were $5,360, but this amount does not appear on the bank statement. 2. The bank statement shows a debit memorandum for $72 for cheque printing charges. 3. Cheque \#119 payable in the amount of $248 to Holt Corporation was recorded in the general journal and cleared the bank for \$248. A review of the accounts payable records shows a $36 credit balance in Holt's account and that the total payment should have been for $284. 4. The total amount of cheques outstanding at November 30 was $6,001. 5. Cheque \#138 was correctly written and paid by the bank for $219. The cash payment journal reflects an entry for Cheque \#138 as a debit to Accounts Payable and a credit to Cash for $291. 6. The bank returned an NSF cheque from a customer for $720. 7. The bank statement included a deposit for $1,420, which represents the electronic collection of customer accounts which have not yet been recorded on the company's books. (a) Your answer is correct. Prepare a bank reconciliation for Sheffield Coffee Limited at November 30, 2022. (List items that increase balance first.) Prepare any journal entries necessary as a result of the bank reconciliation. (Credit account titles are automatically indented when
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