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The statement from Jackson County Bank on December 31 showed a balance of $ 24,882. A comparison of the bank statement with the Cash account
The statement from Jackson County Bank on December 31 showed a balance of $ 24,882. A comparison of the bank statement with the Cash account revealed the following facts, 1 2 The bank collected a note receivable of 5 2.100 for Novak Corp. on December 15 through electronic funds transfer The December 31 receipts were deposited in a night deposit vault on December 31. These deposits were recorded by the bank in January Checks outstanding on December 31 totaled $ 1.100. On December 31, the bank statement showed an NSF charge of $ 620 for a check received by the company from L. Bryan, a customer, on account. 3. Prepare a bank reconciliation as of December 31 based on the available information. (Hint: The cash balance per books is $ 25,102. This can be proven by finding the balance in the Cash account from parts (a) and (b)) (List items that increase cash balance first. Reconcile cash balance per bank first.) Novak Corp Bank Reconciliation December 31, 2022 Cash balance per bank statement V 24,882 Add Deposits in transit 2.800 Less Outstanding checies 1.100 26,582 Adiusted cash balance ner books first. Reconcil Novak Corp. Bank Reconciliation December 31, 2022 24,882 Cash balance per bank statement 2,800 Add Deposits in transit 1.100 Less Outstanding checks $ 26,582 Adiusted cash balance per books $ 25,102 Cash balance per bank statement Add : Collection of note receivable 2,100 Less : NSF check -620 i Adiusted cash balance per bank $ 26,582 Save for Later A (d)
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