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Prepare bank reconciliation and the required journal entries

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Reference no: EM132800224

Question - The following data have been gathered for Rocky Candi Corporation for the month ended September 30, 2019.

The bank statement has a balance of $8,936.

The September 30, 2019, book balance was $3,200.

There was an EFT deposit of $1,800 on the bank statement for the monthly rent from a tenant.

The bookkeeper had erroneously recorded a $50 cheque as $500. The cheque was to settle an account payable.

The bank statement revealed $50 in service charges.

Cheques #322 and #330 for $260 and $285 were not returned with the bank statement.

A deposit made on September 29, 2019, for $1,250 did not appear on the bank statement.

A deposit of $500 made on September 10 was erroneously credited to Rocky Candi's account by the bank for $5,000.

A bank debit memo indicated an NSF cheque for $259.

Instructions - Base on the above information, prepare bank reconciliation and the required journal entries.

Reference no: EM132800224

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