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The bank account as a control device helps protect cash. One of the requirements is to conduct periodic bank statement reconciliation. Using the following data,
The bank account as a control device helps protect cash. One of the requirements is to conduct periodic bank statement reconciliation. Using the following data, complete the bank statement reconciliation for J&J Flooring, INC
* the bank statement indicated a service charge of $56
* deposit was made on May 31, but the deposit did not appear on the bank statement, $1,451.
* a credit memo in the bank statement indicated a bank collection of a note for $1,300 with interest received $16. This item was dated. At 18.
* Checks # 1406 for $1,342, #1610 for $1,609, and # 1825 for $857 were written by J&J to respective companies, but these checks do not appear on the bank statement.
* The balance of the bank statement as of May 31 was $13,019.
* The Cash account on Janus' books showed an amount of $9,716.
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