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The balance of the general ledger cash account as of Dec. 31, 2019 is 7,120. On the other hand, the bank statement showed a Dec.
The balance of the general ledger cash account as of Dec. 31, 2019 is 7,120. On the other hand, the bank statement showed a Dec. 31, 2019 balance of6,580. You were tasked to prepare the bank reconciliation statement for the company's bank account. Your analysis of the bank statement and the general ledger account revealed the following: Deposit in Transit 1,345 Credit memo for direct collection of a note receivable 755 Credit memo for interest income 65 Auto debit of cell phone bill 290 Customers NSF check 455 Outstanding check 575 Debit memo for ban charges 25 A check revealed from a customer was recorded in the accounting books for 3,280. The bank statement revealed that the customer check cleared at the correct amount of 3,820 The bank deducted 360 from the account of Elvis for a check used by Elvira Inc. Required: Prepare the bank reconciliation statement as of Dec. 31, 2019 for Elvi's bank account
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