UPDATED hope this helps

Bank Statement:

Beginning Balance, January 1, 2018 : $0

Deposits and other credits:

$570,000, $74,250, $250,000, $380,000, $780,000, $1,500 = Interest Revenue: $2,055,750

Checks and other debits:

EFT to Bank Checks* : $75

Checks: $47,000, $405,000, $40,000, $67,500, $180, $2,600, $1,100, $350,000, $550,000, $152,500, $1,800 = Bank Service Charge: $1,617,755

Ending Balance, December 31, 2018: $437,995

Cash T-Account (letters are previous journal entries):

debit: (a) $570,000 (l) $74,250 (m) $250,000 (p) $380,000 (q) $175,950 (u) $780,000

credit: (b) $47,000 (c) $405,000 (d) $67,500 (e) $40,000 (f) $1,100 (g) $2,600 (i) $180 (o) $ 350,000 (s) $550,000 (v) $152,500 (w) $136 (x) $12,000 (y) $83,400

balance - debit : $518,784

Question Help Instructor-created question King Appliance Center Nantucket has just purchased a franchise from King Appliance Center (KAC). (Click the icon to view, the additional information.) Following is the chart of accounts for King Appliance Center Nantucket. As a new business, all beginning balances are $O 0)Click the icon to view the chart of accounts.) Requirement 2. It is a common business practice to reconcile the bank accounts on a monthly basis. However, in this problem, the recondiliation of the company's checking account will be done at the end of the year, based on an annual summary. Reconcile the bank account by comparing the following annual summary statement from Nantucket National Bank to the Cash account in the general ledger. Record journal entries as needed and post to the general ledger. Use transaction z as the posting reference. Start by reconoiling the bank account by comparing the following annual summary statement from Nantucket National Bank to the Cash account in the general ledger. For any outstanding checks, use the appropriate transaction letteridescriptions in lieu of check numbers to identfly each outstanding payment. (Click the icon to view the bank statement.) )(Click the icon to view the Cash T-account.) King Appliance Center-Nantucket Bank Reconciliation December 31, 2018 BOOKS BANK ADD: ADD