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Using the following information, prepare a bank reconciliation for the sporting goods store Johnson Sporting Goods, Inc. for July 31, 2022. The bank statement balance
Using the following information, prepare a bank reconciliation for the sporting goods store Johnson Sporting Goods, Inc. for July 31, 2022.
- The bank statement balance is $14,171.
- The cash account balance is $4,530
- Outstanding checks totaled $1,285.
- Deposits in transit are $1,670.
- The bank service charge is $30.
- The bank cleared a check for $98 for supplies that was recorded as $89 in the general ledger.
- A CD (certificate of deposit) matured and was posted to the bank account during the period by the bank. Maturity value of the CD was $10,000. Interest earned was $75. The bank charged a $10 posting fee on the funds which was not included in the service charge above.
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