Business, 27.06.2020 21:01 brialevy2283

The bank statement for Farmer Co. indicates a balance of $7,735 on June 30. After the journals for June were posted, the cash account had a balance of $4,098. (a) Cash sales of $742 were erroneously recorded in the cash receipts journal as $724. (b) Deposits in transit not recorded by bank, $425. (c) Bank debit memo for service charges, $35. (d) Bank credit memo for note collected by bank, $2,475 including $75 interest. (e) Bank debit memo for $256 NSF (not sufficient funds) check from Janice Smith, a customer. (f) Checks outstanding, $1,860. Required: Prepare a bank reconciliation on the basis of the above reconciling items. Be sure to complete the statement heading. Refer to the Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. "Deduct" or "Add" will automatically appear if it is required. Enter all amounts as positive values. Amounts that increase the cash balance should be listed first.

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The bank statement for Farmer Co. indicates a balance of $7,735 on June 30. After the journals for J...

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