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Prepare bank reconciliation statement for JC Company

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Reference no: EM132977620

QUESTION - The bank statement for JC Company indicated a balance of $2,480 on May 31, 2020. After the journals for May had been posted, the cash account had a balance of $4,211. Shown below was the information needed to prepare bank reconciliation for JC Company.

A deposit of $1 ,200, representing cash receipts on May 31, 2020, did not appear on the May bank statement.

Bank services charges for May amounted to $ 100.

Received an interest of $15 from the bank for the month.

A check issued with an amount of $284 had been erroneously recorded as $248 in cash account.

Outstanding checks totaled $580.

An NSF check for $490 from a client Ray Chan.

The bank mistakenly charged to JC Company account a check for $500 drawn by another company. However, the bank immediately rectified the error right after JC called in on June 5, 2020.

Required - Prepare bank reconciliation statement for JC Company at May 3 1, 2020.

Reference no: EM132977620

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