The following data represents information necessary to assist in preparing the June 30 bank reconciliation for Sellmore Company Inc.

a) The June 30 bank balance was $5,311.

b) The bank statement indicated a deduction of $43 for bank service charges. c)

A customer deposited $850 directly into the bank account to settle an outstanding accounts receivable bill.

d)check number 836 for $470 and check number 898 for $329 have been recorded in the company ledger but did not appear on the bank statement.

e) A customer paid an amount of $4,573 to Sellmore on the 30 of June but the deposit did not appear on the bank statement.

f) The accounting clerk made an error and recorded a $250 check as $2,500. The check was written to pay outstanding accounts payable account.

g) check number 9511 for $98 was deducted from Sellmores account by the bank. This check was not written by Sellmore and needs to be reversed by the bank.

h) The bank included an NSF check in the amount of $710 relating to a customers payment.

i) The general ledger cash account showed a balance of $6,836 on June 30 Required

1) Complete the bank reconciliation for Sellmore Company. 2) Write the necessary journal entries to correct Sellmores records Do not enter dollar signs or commas in the input boxes. Use the negative sign for values that must be subtracted.

Required 1) Complete the bank reconciliation for Sellmore Company. 2) Write the necessary journal entries to correct Sellmores records Do not enter dollar signs or commas in the input boxes. Use the negative sign for values that must be subtracted.

The following data represents information necessary to assist in preparing the June 30 bank reconciliation for Sellmore Company Inc.

a) The June 30 bank balance was $5,311. b) The bank statement indicated a deduction of $43 for bank service charges. c) A customer deposited $850 directly into the bank account to settle an outstanding accounts receivable bill. d) check number 836 for $470 and check number 898 for $329 have been recorded in the company ledger but did not appear on the bank statement. e) A customer paid an amount of $4,573 to Sellmore on the 30 of June but the deposit did not appear on the bank statement. f) The accounting clerk made an error and recorded a $250 check as $2,500. The check was written to pay outstanding accounts payable account. g) check number 9511 for $98 was deducted from Sellmores account by the bank. This check was not written by Sellmore and needs to be reversed by the bank. h) The bank included an NSF check in the amount of $710 relating to a customers payment. i) The general ledger cash account showed a balance of $6,836 on June 30 Required 1) Complete the bank reconciliation for Sellmore Company. 2) Write the necessary journal entries to correct Sellmores records Do not enter dollar signs or commas in the input boxes. Use the negative sign for values that must be subtracted.

		Ledger	Bank
a & i	June 30 Balance	Answer	Answer
b	Bank charges	Answer	Answer
c	Customer paid account	Answer	Answer
d	check 836 not cleared	Answer	Answer
d	check 898 not cleared	Answer	Answer
e	Outstanding deposit	Answer	Answer
f	Correct error	Answer	Answer
g	Bank error	Answer	Answer
h	NSF check	Answer	Answer
	Total	Answer	Answer

Reference	Account Title and Explanation	DR	CR
b	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseBank Charges ExpenseCashCommon StockCost of Goods SoldInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueInventoryNotes PayablePrepaid InsurancePrepaid RentPrepaid ServicesProperty, Plant & EquipmentRent ExpenseSalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense	Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseBank Charges ExpenseCashCommon StockCost of Goods SoldInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueInventoryNotes PayablePrepaid InsurancePrepaid RentPrepaid ServicesProperty, Plant & EquipmentRent ExpenseSalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense		Answer
	Record bank charges

Reference	Account Title and Explanation	DR	CR
c	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseBank Charges ExpenseCashCommon StockCost of Goods SoldInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueInventoryNotes PayablePrepaid InsurancePrepaid RentPrepaid ServicesProperty, Plant & EquipmentRent ExpenseSalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense	Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseBank Charges ExpenseCashCommon StockCost of Goods SoldInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueInventoryNotes PayablePrepaid InsurancePrepaid RentPrepaid ServicesProperty, Plant & EquipmentRent ExpenseSalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense		Answer
	Record collection of accounts receivable

Reference	Account Title and Explanation	DR	CR
f	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseBank Charges ExpenseCashCommon StockCost of Goods SoldInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueInventoryNotes PayablePrepaid InsurancePrepaid RentPrepaid ServicesProperty, Plant & EquipmentRent ExpenseSalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense	Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseBank Charges ExpenseCashCommon StockCost of Goods SoldInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueInventoryNotes PayablePrepaid InsurancePrepaid RentPrepaid ServicesProperty, Plant & EquipmentRent ExpenseSalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense		Answer
	To correct the record of accounts payable

Reference	Account Title and Explanation	DR	CR
h	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseBank Charges ExpenseCashCommon StockCost of Goods SoldInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueInventoryNotes PayablePrepaid InsurancePrepaid RentPrepaid ServicesProperty, Plant & EquipmentRent ExpenseSalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense	Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseBank Charges ExpenseCashCommon StockCost of Goods SoldInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueInventoryNotes PayablePrepaid InsurancePrepaid RentPrepaid ServicesProperty, Plant & EquipmentRent ExpenseSalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense		Answer
	To record NSF check