Question
Transactions and balances for Diana Wonder are provided below: 31 Jul 2020 Bank Statement balance $ 78,495 31 Jul 2020 balance per Diana's records $
Transactions and balances for Diana Wonder are provided below: 31 Jul 2020 Bank Statement balance $ 78,495 31 Jul 2020 balance per Diana's records $ 77,370 Diana received a cash payment that she has not deposited $ 380 Diana issued a cheque payable to Michael Hill Enterprises that has not been presented to the bank $ 1,499 Bank charges for the month of July were $10 Interest on bank balance credited to Diana's account $ 16 Required: Perform a bank reconciliation.
a) Reconcile Diana Wonder's month end cash balance as of 31 Jul 2020.
b) Based on your analysis, propose the adjusting entries (if any).
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