Business, 05.05.2020 06:21 croxy0514

Skysong Company has just received the August 31, 2017, bank statement, which is summarized below.

County National Bank Disbursements Receipts Balance
Balance, August 1 $14,962
Deposits during August $51,423 66,385
Note collected for depositor, including $64 interest 1,661 68,046
Checks cleared during August $55,097 12,949
Bank service charges 32 12,917
Balance, August 31 12,917

The general ledger Cash account contained the following entries for the month of August.
Cash Balance, August 1 16,050
Disbursements in August 55,752
Receipts during August 55,895

Deposits in transit at August 31 are $6,069, and checks outstanding at August 31 total $1,677. Cash on hand at August 31 is $495. The bookkeeper improperly entered one check in the books at $146.50 which was written for $164.50 for supplies (expense); it cleared the bank during the month of August.

Prepare a bank reconciliation dated August 31, 2017, proceeding to a correct balance.

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Skysong Company has just received the August 31, 2017, bank statement, which is summarized below.

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