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Make a bank reconciliation for june 30 in good form

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Reference no: EM132326398

Question

1. The following information pertains to the Phantasm Company:

a. Cash balance per the June 30 bank statement, $5,128.

b. July bank service charge not recorded by Phantasm $38.

c. Cash balance per the books on June 30, $5,164.

d. Deposits in transit on June 30, $2,700.

e. Note for $2,000 collected for Phantasm in July by the bank, plus interest $36 less fee $20. The collection has not been recorded by Phantasm, and no interest has been accrued.

f. Outstanding checks on June 30, $686.

Required:

Make a bank reconciliation for June 30 in good form.

Prepare journal entries as necessary for June 30.

Reference no: EM132326398

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