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In: Accounting

The bank statement for Allen Co. indicates a balance of $7,100.00 on June 30. The cash...

  1. The bank statement for Allen Co. indicates a balance of $7,100.00 on June 30. The cash account balance had a balance of $3,975.00. Prepare bank reconciliation on the basis of the following information, and journalize the changes on the company’s cash balance.
  • Cash Receipts of $672 had been recorded on the company’s books as $654,
  • Deposits in transit not record by the bank, $400
  • Bank service charges, $20
  • Note collected by the bank and not yet notified to the company,$1,550 including $50 interest
  • NSF check from a customer, $223
  • Checks outstanding, $2,200

Bank Statement

Cash Balance – Company

Total

Total

Journal                          

Date

Accounts

Debit

Credit

*I don't know why the last graft got cut off, but to the left it says "Date".

Solutions

Expert Solution

ekkarill92 answered 2 years ago
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