Question
The Cash account for Interactive Systems at February 28, 2010 indicated a balance of 7,635. The bank statement indicated a balance of 13,333 on February
The Cash account for Interactive Systems at February 28, 2010 indicated a balance of 7,635. The bank statement indicated a balance of 13,333 on February 28, 2010. Comparing the bank statement and the accompanying caceled checks and memos with the records reveals the following reconciling items. A.Checks outstanding totaled 4,118. B. A deposit of 4,500 representing receipts of February 28, had been made too late to appear on the bank statement. C.The bank had collected 5,200 on a note left for collection. The face of the note was 5,000 D. A check for 290 returned with the statement had been incorrectly recorded by Interactive systems as 920. The check was for the payment of an obligation to Busser Co. for the purchase of office supplies pn account. E. A Check drawn for 415 had been incorrectly charged by the bank as 145. F. Bank Service charges for February amounted to 20. 1. Prepare a bank reconciliation. 2. Journalize the necessary entries. the accounts have not been closed
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