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Bank Recon

In: Business and Management

Submitted By Swtladybug
Words 286
Pages 2
Jason Company received a bank statement for the month of October 2014, which showed a balance per bank of $3,900. The company's Cash account in the general ledger showed a balance of $1,506 at October 31. Other information that may be relevant in preparing a bank reconciliation for October follows:
1. The bank returned a NSF check from a customer for $51.
2. The company recorded cash receipts of $830 on October 31 but this amount does not appear on the bank statement.
3. The bank made an EFT payment of $40 on behalf of the company for their internet service.
4. A check correctly written and paid by the bank for $1,650 was incorrectly recorded in the cash payments journal for $1,560.
5. Checks that were written in September but still had not been presented to the bank for payment at October 31 amounted to $690.
6. The bank included a credit memorandum for $1,580, which represents a collection of a customer's note by the bank for the company; principal amount of the note was $1,500 and the remainder was interest.
7. The bank included a $25 debit memorandum for service charges for the month of October.
8. Checks written in October which have not been paid by the bank at October 31 amounted to $1,250.
9. The bank included a $10 credit memorandum for interest earned for the month of October.
10. The bank included a $100 debit memorandum for a charge that should have been deducted from Julian Company.
Required
Prepare a bank reconciliation for Jason Company for October, which reconciles the balance per books and the balance per bank to their adjusted correct

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