Reference no: EM132949923
The Brown Company bank statement for September 30, 2020 showed a balance of $1,681.50. The company's cash account showed a $1,305.20 debit balance. The following information was also available:
(a) A customer's cheque for $90 marked NSF was returned to Brown Company by the bank. The bank charged the company's account a $10 processing fee.
(b) The September 30 cash receipts, $1,250, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the bank statement.
(c) A $15.10 debit memorandum for cheques printed by the bank was included with the cancelled cheques.
(d) Outstanding cheques amounted to $1,141.40.
(e) A customers note for $920 was collected by the bank. A collection fee of $20 was deducted by the bank.
(f) Included with the cancelled cheques was a cheque for $300, drawn on another company, The Browne Bros.
Problem 1: Prepare the bank reconciliation
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