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The Ryan manufacturing company received its bank statement for the month ending May31. The bank statement indicates a balance of $32400. The cash account as of the close of business on May 31 has a balance of $8350. In reconciling the balances, the following items are discovered.
a. collection of bank note for $1500 less collection fees of $250.
b. Deposits in transit $1500
c. The bank charged $800 for overdrafts
d. Checks outstanding on May 31, $79100
e. A canceled check issued to Nate Corp. for $4500 was not recorded on Ryan Manufacturing Company's books
Prepare a bank reconciliation statement, using the format of reconciling bank and depositor figures to corrected cash balance.
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