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Prepare a bank reconciliation and necessary journal entries

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Question - As the bookkeeper of Cook Company of Drumheller, you received the bank statement from TD Canada Trust indicating a balance of $4,352. The ending book balance wad $3,789. The following information was available

Deposits in transit were $1,378

Bank service charges were $16

Cheques outstanding: No. 221, $642, No. 225, $1489

TD collected a note for Cook, $2,500 and charged you a $35 collection fee

NSF cheque $749 was on the bank statement

Cook company records cheque No. 321 as $500 for this months rent but the bank withdrew the correct amount on the cheque: $400

The bank made an error by deducting $990 to your account that was not one of your cheques

Required - Prepare a bank reconciliation AND any necessary journal entries.

Reference no: EM132579371

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