Sheridan's Sweet Shop's August 31 bank balance was $11,126. The company's cash balance at August 31 was $10,775. Other information follows: 1 Outstanding cheques were #421 for $156, #485 for $256, #492 for $166. and #494 for $1,156. Cheque #421 was also outstanding on July 31 and was included on July's bank reconciliation. Included with the statement were EFT deposits totalling $1.726 during Augustin payment of accounts receivable. These deposits have not been recorded by the company. Cheque #490 was correctly written and paid by the bank for $509. The cheque had been issued to pay accounts payable and the company had recorded it as $599. The bank statement showed a cheque #4832 for $786, which did not appear on the company's books. Investigation revealed that the cheque was actually issued by Wally's Water Works and was charged to Sheridan's Sweet Shop's account 2. 3 4. in error 5. 6. The bank returned an NSF cheque from a customer for $376, The bank statement showed two debit memoranda for service charges: one for $16 related to the NSF cheque (see item (s) above) and one for $36 for cheque printing charges. The company's policy is to pass on all NSF processing fees to the customer The company's records showed the August 15 deposit as $5.690. On the bank statement, it was correctly recorded as $5.990. The deposit was for cash sales, The company has a pre-authorized EFT payment for its monthly utilities for $236 scheduled for the last day of each month, As August 31 was a Sunday this year, the bank posted it on September 1. The company recorded it in August. 7 7. 8. customer. The company's records showed the August 15 deposit as $5,690. On the bank statement, it was correctly recorded as $5,990. The deposit was for cash sales. The company has a pre-authorized EFT payment for its monthly utilities for $236 scheduled for the last day of each mont As August 31 was a Sunday this year, the bank posted it on September 1. The company recorded it in August The $1,346 July 31 bank deposit was recorded on August 1 on the bank statement. The August 31 bank deposit of $2.52 was not included on the August bank statement. 9. (a) Prepare a bank reconciliation. (List items that increase balance as per bank & books first.) SHERIDAN'S SWEET SHOP Bank Reconciliation August 31 5 > > > Save for Later Attempts: 0 of 1 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above