Reference no: EM132715475
Question: Transactions and balances for Diana Wonder are provided below:
• 31 Jul 2020 Bank Statement balance $ 78,495
• 31 Jul 2020 balance per Diana's records $ 77,370
• Diana received a cash payment that she has not deposited $ 380
• Diana issued a cheque payable to Michael Hill Enterprises that has not been presented to the bank $ 1,499
• Bank charges for the month of July were $10
• Interest on bank balance credited to Diana's account $ 16
Required: a bank reconciliation.
a) Reconcile Diana Wonder's month end cash balance as of 31 Jul 2020.
b) Based on your analysis, propose the adjusting entries (if any).