Reference no: EM132590777
Question - Lecous' bank statement dated Dec 31, 2015 shows a balance of $25,670. The company's cash records on the same date show a balance of $24,250.
Following additional information is available:
1. Following checks issued by the company to its customers are still outstanding:
No. 175 issued on Nov 29 $570.00
No. 176 issued on Dec 26 $25.21
No. 177 issued on Dec 29 $275.00
No. 178 issued on Dec 31 $197.50
2. A deposit of $500.00 made on Dec 31 does not appear on bank statement.
3. An NSF check of $1150.71 was returned by the bank with the bank statement.
4. The bank charged $55 as service fee.
5. Interest income earned on the company's average cash balance at bank was $1,557.
6. The bank collected a note receivable on behalf of the company. Amount received by the bank on the note was $350. This includes $50 interest income. The bank charged a collection fee of $39.
7. A deposit of $530 was incorrectly entered as $340 in the company's cash records.
Required - Make a bank reconciliation statement using the above information.