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Prepare a bank reconciliation

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Reference no: EM132697690

Question - Transactions and balances for Diana Wonder are provided below:

- 31 Jul 2020 Bank Statement balance $78,495

- 31 Jul 2020 balance per Diana's records $77,370

- Diana received a cash payment that she has not deposited $380

- Diana issued a cheque payable to Michael Hill Enterprises that has not been presented to the bank $1,499

- Bank charges for the month of July were $10

- Interest on bank balance credited to Diana's account $16

Required - Prepare a bank reconciliation.

a) Reconcile Diana Wonder's month end cash balance as of 31 Jul 2020.

b) Based on your analysis, propose the adjusting entries (if any).

Reference no: EM132697690

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