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Make a bank reconciliation at june and adjust cash balance

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The following information relates to the cash position of EDC Ltd.

  1. Bank statement balance as at 30 June 2020: $13 140 credit.
  2. 30 June receipts amounting to $920 have not been deposited.
  3. Cheques issued but not presented total $480.
  4. A $500 cheque was returned marked 'dishonoured'. The cheque had been received from Alex, a new customer.
  5. A $1500 deposit made by Husle was incorrectly credited to the bank account of EDC Ltd.
  6. The bank statement shows that the bank has charged the business's account with fees and charges of $40.
  7. Cash at Bank account balance as at 30 June 2020: $12 620 debit.

Problem 1: Make a bank reconciliation at 30 June 2020, and adjust the cash balance.

Reference no: EM132778468

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