Reference no: EM132405302
Question
MK Enterprises has an operating account which is maintained at Park Avenue Bank. You learned the following:
The cash receipts journal showed cash of $15,125 received on December 29, 2018 and the deposit was made on December 31, 2018. The deposit was not recorded in the bank until January 2, 2019
The December 31, 2018 bank statement shows a balance of $62,325
In analyzing the cash receipts activities, you noticed that the December 29th cash remittance listing showed a deposit received for $6,050 which was recorded in the cash receipts journal as $6,500
The following checks recorded in the check register had not been deposited by the customer:
Check # Date of check Amount
101 12/31/2018 $600
220 6/31/2018 1500
221 " 1250
250 8/1/2018 3300
330 12/23/2018 225
360 12/31/2018 175
361 1/2/2019 525
363 1/3/2019 400
Due to multiple bad checks received from customers, MK Enterprises was charged $45 service fees for December 2018
The company earned $5 in interest for the month
Required: Prepare MK Enterprises' bank reconciliation for December 2018