Option #1: Conducting a Bank Reconciliation Note: Part 1 is the bank reconciliation itself and Part 2 is for the adjusting entries. Instructions: Using the information below, complete the bank reconciliation for both the "book" and the "bank" sides and create all necessary adjusting journal entries. Details: Cash balance per company's records as of July 31st, 2011 was $66,955. Bank statement balance as of July 31st, 2011 was $15,875. A deposit in the amount of $52,000 was deposited into the night depository of the bank on July 31st but did not get recorded in the July 31st bank statement balance. Check #354 in the amount of $575 and check # 365 in the amount of $1,500 were outstanding as of this bank An NSF check in the amount of $500 (written by J. Smith, a customer) was returned by the bank to the company in the July 31st bank statement. A bank service charge in the amount of $50 was included in the July 31st bank statement. Interest in the amount of $125 was deposited into our account by the bank. The bank collected $1,000 from a customer (H. Doe) on our behalf as part of the lockbox service that we established with the bank. The bank erroneously posted another company's check (i.e. withdrawal) in the amount of $5,000 to our account. The bank erroneously posted another company's deposit into our account in the amount of $3,000. After reconciling the bank statement, we noticed that a check that was written to pay for the current month's utilities in the amount of $250 was improperly recorded in our books as $520. (It was properly recorded in the bank statement as $250.) Spreadsheets + Bank Reconciliation Part 1 Bank Reconciliation Part 2 ACT300 Principles of Accounting Module 5: Critical Thinking Template Option #1 Bank Reconciliation Aune 30 Book balance of cash Add: Bank statement balance Add: Deduct Deduct: Reconciled balance Reconciled balance Spreadsheets + Bank Reconciliation Part 1 Bank Reconciliation Part 2 Requirements Compleme n t ed to bank reconciliation