Reference no: EM132532505
Question - Preparing bank reconciliation
a) At December 31, cash per the bank statement was $ 15,981; cash per the company's records was $ 17,445.
b) Two debit memorandum accompanied the bank statement: service charges for December of $ 21, and a $ 600 check drawn by RAMI marked 'NSF'
c) Cash receipts of $ 4,353 on December 31 were not deposit until January.
d) The following checks had been issued in December but were not included among the paid checks returned by the bank no. 620 for $ 978, no. 630 for $ 2,052, and no. 641 for $ 483.
Required -
i) How to prepare bank reconciliation at December 31.
ii) Prepare the necessary journal entry or entries to update the accounting records based on the reconciliation.
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