Reference no: EM133066779

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

1. The cash balance as at September 30, 2021 was a debit balance of $65,300. The ending balance shown on the bank statement was $67,466

2. Cheques that were outstanding at April 30 were:

#760 $ 925

#768 $1,025

#767 $ 2,096

3. The bank statement showed a deduction of bank service charge fees of $50.

4. The bank collected a net amount of $1,005: $1,000 regarding a note receivable, interest revenue of $25, and a $20 service charge that also is not included in the company records.

5. A deposit recorded by the company for $1,875 did not yet appear in the bank statement.

6. 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.

7. The bank statement showed a deduction of $340 for a cheque from a customer for payment on account returned NSF. In addition, there was a $20 service charge.

Required -

1. Prepare a bank reconciliation for the company as at September 30, 2021.

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