Reference no: EM132561984
Question - Perform a bank reconciliation
a) Reconcile Jack Steel's month end cash balance as of 31 Jul 2019
b) Based on your analysis, propose adjusting entries (if any).
Transactions and balances:
31 Jul 2019 Bank Statement balance $ 58,791
31 Jul 2019 balance per Jack's records $ 57,371
Jack received a payment that he has not deposited $ 250
Jack issued a cheque payable to Pandora's Jewels to pay for a belated Mother's Day gift to his grandmother that has not been presented to the bank $ 1,612
Bank charges for the month of July were $40
Interest on bank balance credited to Jack's account $ 98