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Make correct bank reconciliation

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Reference no: EM132570656

Question - Sellicks Ltd's bank reconciliation clerk is unable to reconcile the bank balance at 31 January. The balance of the Cash at Bank account, before any entries for transactions initiated by the bank, was $4,770.20 in the company records. The clerk's attempt at the bank reconciliation statement is as follows:

Cash balance as per bank statement $4,392.20 Cr

Add: Dishonoured cheque 516.00

Less; Outstanding deposits 708.00

Less: Bank charges 30.00

Add: Unpresented cheques 876.00

Cash balance as per company records $5,046.20

Required -

1. Make correct bank reconciliation.

2. Prepare the General Journal entries required by the reconciliation. Narrations not needed.

3. Post the above entries to the Cash at Bank General Ledger account.

Reference no: EM132570656

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