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Prepare a bank reconciliation in proper form for the month

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Reference no: EM132608162

The bank statement for Dallas Company indicates a balance of $3,200 on February 28, 2018. The cash balance per books had a balance of $3,231 on this date. The following information pertains to the bank transactions for the company.

  1. A deposit of $1,218 did not appear on the bank statement.
  2. Bank charge for accepting credit cards was $22.
  3. Bank service charge for January was $19.
  4. The bank collected a note receivable for the company for $700 plus $56 of interest. The bank charged a $15 for the collection.
  5. A NSF check for $340 from a customer for payment on account was returned with the statement.
  6. Four outstanding checks were found to total $800.
  7. A check for $36 paid to a vendor on account was recorded as $63 in the check register.

Instructions

Question 1: Using the Bank Reconciliation form, help to prepare a bank reconciliation in proper form for the month ending February 28, 2018.

Question 2: Prepare any journal entries necessary as a result of the bank reconciliation.

Reference no: EM132608162

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