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Prepare a bank reconciliation

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Reference no: EM13948522

The following information pertains to Laguna Corp.

1. Cash balance per bank, October 31, $8,205.

2. Cash balance per books, October 31 $8,340.

3. October bank service charges not recorded by the depositor $15.

4. Deposits in transit, October 31, $6,000.

5. Note for $5,000 collected for Laguna in October by the bank, plus interest $125 less fee $20. The collection has not been recorded by Allied, and no interest has been accrued.

6. Outstanding checks, October 31, $850

7. NSF check: $325 from the customer.

8. Deposit for $250 from the customer was not recorded in the accounting records.

Required:

Prepare a bank reconciliation at October 31, 2007, and journal entries. Identify the items above that will require journal entries in the accounting records. Circle the corresponding number.

Reference no: EM13948522

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