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Prepare the bank reconciliation at may

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Following information was available for Romney Supply Company for the month ended May 31, 2015

(a) On May 31, 2015 the Cash account of Romney Supply Company had a balance of $35,850.

(b) On May 31, 2015 the bank statement indicated a balance of $54,580

(c) The bank reported the collection of a note receivable for Romney of S7,300 including $500 interest.

(d) It was observed that the bank statement did not include a deposit of S4,700 made by Romney on May 31 and that cheques totalling $14,930 issued by Romney had not cleared the bank. e Romney recorded an insurance expense payment of S150 as S1,500. (0 Service charges of $1.50 were charged for cheque printing.

Question 1: Prepare the bank reconciliation at May 31, 2015

Reference no: EM132535084

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