Reference no: EM132738126
Question: Merrifield Lawn Care's bank statement at August 31, 2016 showed an ending balance of $23,916.87. The unadjusted cash account balance for Merrifield is $20,437.98. The following data were gathered by Merrifield's accountant:
Check number 2143 was correctly written for $427. It was recorded in the company's books as $472 for utilities.
Outstanding checks as of August 31: $7,128.71
NSF check from customer: $71.82
Debit memo related to the returned deposit: $8.00
Credit memo related to interest earned: $10.00
Deposits in transit: $3,625.00
Required: 1) Make a bank reconciliation for Merrifield Lawn Care at August 31, 2016.
2) make the required journal entries to record the book adjustments at August 31, 2016.