Reference no: EM13958021
The Le Company's bank statement for April 30 showed a cash balance of $5,719. The company's Cash account in its general ledger showed a $4,995 debit balance. The following information was also available as of April 30. Prepare the monthly bank reconciliation.
a. A customer's check for $100 marked NSF was returned to Asia Company by the bank. In addition, the bank charged the company's account a $25 processing fee.
b. The April 30 cash receipts, $1,313, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the April 30 bank statement.
c. A $15 debit memorandum for checks printed by the bank was included with the canceled checks.
d. Outstanding checks at April 30 included Check #1201, $890, Check #1204 in the amount of $350
e. A customer's note for $900 was collected by the bank. A collection fee of $25 was deducted by the bank and the difference was deposited in the account.
f. Included with the canceled checks was a check for $275, drawn on another company, Asian Inc.
g. A debit memorandum for $95.00 indicates the bank deducted the annual lock box fee for the company.
h. On April 30, the bank issued a credit memorandum for $63 interest earned on Asia's account.
i. When the April checks are compared with entries in the accounting records, it is found that Check No. 1207 had been correctly drawn for $1,041 to pay for the company's monthly insurance premiums but was erroneously entered in the accounting records as $1,410.
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