Question
The cash balance per books for Crane Company on November 30, 2022, is $10,481.06. The following checks and receipts were recorded for the month of
The cash balance per books for Crane Company on November 30, 2022, is $10,481.06. The following checks and receipts were recorded for the month of December 2022:
Checks | Receipts | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
No. | Amount | No. | Amount | Amount | Date | ||||||
17 | $377.70 | 22 | $591.97 | $856.99 | 12/5 | ||||||
18 | 580.75 | 23 | 1,700.63 | 954.67 | 12/21 | ||||||
19 | 170.00 | 24 | 934.43 | 821.71 | 12/27 | ||||||
20 | 600.63 | 25 | 259.16 | 1,380.00 | 12/31 | ||||||
21 | 247.28 |
In addition, the bank statement for the month of December is presented below:
Balance | Deposits and Credits | Checks and Debits | Balance | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Last Statement | No. | Total Amount | No. | Total Amount | This Statements | |||||||||||||||||||||
$5,417.97 | 5 | $9,591.49 | 10 | $3,645.32 | $11,364.14 | |||||||||||||||||||||
Checks and other debits | Deposits | Date | Balance | |||||||||||||||||||||||
No | Amount | No | Amount | No | Amount | |||||||||||||||||||||
14 | 161.42 | 17 | 377.70 | 22 | 591.97 | 5,497.51 | 12/1 | $9,888.26 | ||||||||||||||||||
18 | 508.75 | 24 | 934.43 | 856.99 | 12/8 | $9,232.16 | ||||||||||||||||||||
19 | 170.00 | 25 | 259.16 | 954.67 | 12/23 | $9,554.71 | ||||||||||||||||||||
21 | 247.28 | 28.00 | SC | 821.71 | 12/29 | $10,114.14 | ||||||||||||||||||||
263.00 | NSF | 1,630.00 | CM | 12/31 | $11,364.14 | |||||||||||||||||||||
Symbols: NSF (Not sufficient funds) SC (Service charge) CM (Credit Memo) |
Check No. 18 was incorrectly written for $580.75 for a payment on account. Check No. 14 was the only outstanding check at the end of November. There was also one deposit in transit at the end of November. The NSF check was from S. White, a customer, in settlement of an account receivable. An entry has not been made for the NSF check. The credit memo is for the collection of a note receivable including interest of $73.00 that has not been accrued. The bank service charge is $28.00.
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