Reference no: EM132989087

Question - The following information is available to assist you in preparing the bank reconciliation for Minnie Company Limited:

-The cash balance as of April 30, 2021, was a debit balance of $46,546. The ending balance shown on the bank statement was $47,510.

-The bank statement showed a deduction of bank service charge fees of $36.

-Cheque #565 for supplies, correctly made out for $775 and recorded in the company records as $775, cleared the bank for $475.

-The bank collected a net amount of $2,030: $2,000 regarding a note receivable, interest revenue of $50, and a $20 service charge that also is not included in the company records.

-A deposit recorded by the company for $2,250 did not yet appear in the bank statement.

-A cancelled cheque for $600 belonging to Mickey Corp. but charged by the bank to Minnie Company Limited was included with the cancelled cheques returned by the bank.

-The bank statement showed a deduction of $800 for a cheque from a customer for payment on account returned NSF. In addition, the bank charged a $25 NSF service charge. 8. Cheques that were outstanding at April 30 were:

#560 $1,265

#568 $720

#567 $360

Required -

-Prepare a bank reconciliation for the company as at April 30, 2021.

-Prepare any necessary journal entries as a result of the bank reconciliation.