View Policies Current Attempt in Progress Wildhorse's Sweet Shop's August 31 bank balance was $11,141. The company's cash balance at August 31 was $10,785. Other information follows: 1. Outstanding cheques were #421 for $171, #485 for $271, #492 for $181, and #494 for $1.171. Cheque #421 was also outstanding on July 31 and was included on July's bank reconciliation. 2. Included with the statement were EFT deposits totalling $1,741 during August in payment of accounts receivable. These deposits have not been recorded by the company. 3. D Cheque #490 was correctly written and paid by the bank for $408. The cheque had been issued to pay accounts payable and the company had recorded it as $488. 4. The bank statement showed a cheque #4832 for $801, which did not appear on the company's books. Investigation revealed that the cheque was actually issued by Wally's Water Works and was charged to Wildhorse's Sweet Shop's account in error. 5. The bank returned an NSF cheque from a customer for $391. 6. 7. 8. 9. The bank statement showed two debit memoranda for service charges: one for $31 related to the NSF cheque (see item [5] above) and one for $51 for cheque printing charges. The company's policy is to pass on all NSF processing fees to the customer. The company's records showed the August 15 deposit as $1.660. On the bank statement, it was correctly recorded as $1,960. The deposit was for cash sales. The company has a pre-authorized EFT payment for its monthly utilities for $251 scheduled for the last day of each month. As August 31 was a Sunday this year, the bank posted it on September 1. The company recorded it in August. The $1,361 July 31 bank deposit was recorded on August 1 on the bank statement. The August 31 bank deposit of $2,536 was not included on the August bank statement.