Reference no: EM132705786

Question - Submit bank reconciliation and any required journal entries based on the following information. Use good form!

The Bramant Corp checkbook balance as of August 31 was $8040, but the bank statement balance was $8510. The controller carefully reviewed the two records to find the discrepancies.

1. A $1900 deposit was mailed to the bank by Bramant on August 30 but was not included on the August 31 bank statement.

2. Outstanding checks -- #255 for $325, #280 for $100, #295 for $700.

3. Check #289 paying a vendor's account payable, Logs Unlimited, was written for $140 and appeared on the bank statement for that amount. Bramant check register showed the check as written for $410

4. A customer, Millwork Specialities, paid their balance of $910. The check was deposited in the bank and recorded at $910 by the bank. Inexplicably, Bramant recorded the check for $190.

5. There is an EFT payment for $275 to the electric company listed on the bank statement. This payment has not been recorded on Bramant's books.

6. There is an EFT receipt on the bank statement from a customer, Susan's Supplies, for $120 that has not been recorded by Bramant.

7. Included with the bank statement was a credit memorandum for $780, representing the proceeds of a $700 note receivable (plus interest) left at the bank for collection. Bramant has not yet recorded this memorandum.

8. A customer's check, Brad Carpentry, was returned as NSF, $345. Bramant's controller was not aware of this before seeing it on the bank statement.

9. Included with the bank statement was a debit memorandum for $25 for service charges. Bramant has not yet recorded this memorandum.