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The Scheiffer Companys most recent bank statement and book balances of cash reconciliations were completed on September 3 0 , 2 0 1 2 .
The Scheiffer Companys most recent bank statement and book balances of cash reconciliations were completed on September Two checks were reported outstanding: check # for $ and check # for $ The following information is available for the October reconciliation.Section of the October Bank StatementPrevious BalanceTotal Checks & DepositsTotal Deposits & CreditsCurrent Balance Checks and DebitsDeposits and CreditsDaily BalanceDateNo.Amount DateAmount DateAmountNSFINCMFrom Scheiffers Accounting RecordsCash Receipts DepositedDate Cash DebitOct Cash DisbursementsCheck No Cash Credit CashAccount #DateExplanationPRDebitCreditBalanceSepBalance OctTotal receiptsRTotal disbursementsDCheck # was drawn correctly for $ to pay for office equipment. The recordkeeper recorded it as a debit for Office Equipment and a credit to Cash for $ but misread the amount of the check, which was $ The nonsufficient funds check for a $ account payment was received from a customer, A B Fransen. The company has not yet recorded the returned check. The credit memo is the banks collection on a $ note and shows the deduction of a $ collection fee. The company has not recorded the collection or the fee.Based on the information provided, complete the following tasks: Prepare an October bank reconciliation for the Scheiffer Company.SCHEIFFER COMPANYBank ReconciliationOctober Create the
bank reconciliation here. Make the necessary journal entries to adjust the book balance of cash to the reconciled balance.Create the journal entries here. For distinguished performance, provide three possible reasons why some of the numbered checks in the sequence are missing from the bank statement.
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