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The cash account for Stone Systems at July 31, 20Y5, indicated a balance of $11,940. The bank statement indicated a balance of $15,100 on July

The cash account for Stone Systems at July 31, 20Y5, indicated a balance of $11,940. The bank statement indicated a balance of $15,100 on July 31,20 Y5. Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items: a. Checks outstanding totaled $5,440. b. A deposit of $5,660, representing receipts of July 31 , had been made too late to appear on the bank statement. c. The bank had collected $2,940 on a note left for collection. The face of the note was $2,790. d. A check for $500 returned with the statement had been incorrectly recorded by Stone Systems as $550. The check was for the payment of an obligation toimage text in transcribed

The cash account for Stone Systems at July 31,20Y5, indicated a balance of $11,940. The bank statement indicated a balance of $15,100 on July 31,20Y5. Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items: a. Checks outstanding totaled $5,440. b. A deposit of $5,660, representing receipts of July 31 , had been made too late to appear on the bank statement. c. The bank had collected $2,940 on a note left for collection. The face of the note was $2,790. d. A check for $500 returned with the statement had been incorrectly recorded by Stone Systems as $550. The check was for the payment of an obligation to Holland Co. for the purchase of office supplies on account. e. A check drawn for $500 had been incorrectly charged by the bank as $50. f. Bank service charges for July amounted to $60. Required: 1. Prepare a bank reconciliation. 1 more Check My Work uses remaining

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