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Prepare a bank reconciliation at November

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Question - Presented below is information related to Scuba Dive Company. The balance according to the books at October 31, 2020, was $99,658.29; cash receipts recorded during November were $64,810.69; and cash disbursements recorded for November were $76,859.30. The balance according to the bank statement on November 30, 2020, was $82,373.68.

The following cheques were outstanding at November 30:

Cheque Amount

#920 is 950.29

#991 is 2,846.50

#1030 is 1,974.34

#1064 is 827.66

Included with the November bank statement and not recorded by the company were a bank debit memo for $35.26 covering bank charges for the month, a debit memo for $5,203.75 for a customer's cheque (Marnie Wiesen) returned and marked NSF, and a credit memo for $618.32 representing interest collected by the bank for Scuba Dive Company. Cash on hand at November 30, which has been recorded and is awaiting deposit, amounted to $7,214.10.

Required -

a. Prepare a bank reconciliation at November 30, 2020.

b. Prepare any journal entries required to adjust the Cash account at November 30.

Reference no: EM133045900

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