Question

Print lem Bank.reconciliation and entries Chart of Accounts Amount Descriptions Bank Reconciliation Journal Instructions The cash account for Coastal Bke Co at October 1, 20Y9 indicated a balance of $5,140 Dunng October, the total cash deposbed was $39 175 and checks wrthen totaled $40.520 The bank statement indicated a balance of $8,980 on October 31, 20Y9 Comparing the tank statoment, the canceled checks, and the accompanying memos with the records revealed the following seconciling terms Checks outstanding totaled S5.560 a A depost of $1,050 representng recepts of October 31 had been made too lste to appear on the bank statenent b c The bank had colected for Coastal Bke Co $2,120 on a note t for colection The face of the note was $2,000 d Acheck for 5370 retumed wth the statement had been incorrectly charged by the bank as $730 Acheck for $310 retumed with the statement had been recorded by Coastal Bke Co. as $130 The check was for the payment of an otigation c to Rack Pro Co on account e Bank servnce charges for October amourted to $25 A check for $880 from Eay Vew Condos was returned by the bank due to inoufficient funds f Previous check My Work 3 more Chack My Work uses renanng

please help, instructions are in second picture

Answer 1

$ 8,980 $ 1,050 $ 360 $ -5,560 Coastal Bike Co. Bank Reconciliation October 31, 2019 4 Cash balance according to bank statement 5 Adjustments: 6 Deposit of October 31, not recorded by bank 7 Bank error in charging check as $730 instead of $370 8 Outstanding checks 9 Total adjustments 10 Adjusted balance 11 12 Cash balance according to company's records 13 Adjustments: 14 Proceeds from Notes collcetion 15 Error in recording check ($130-$310) 16 Bank service charges 17 NSF check 18 Total adjustments 19 Adjusted balance $ -4,150 $ 4,830 $ 3,795 $ 2,120 $ -180 $ -25 $ -880 $ 1,035 $ 4,830 20

8980 А Coastal Bike Co. Bank Reconciliation October 31, 2019 4 Cash balance according to bank statement 5 Adjustments: 6 Deposit of October 31, not recorded by bank 1050 7 Bank error in charging check as $730 instead of $370 1=730-370 8 Outstanding checks -5560 9 Total adjustments 10 Adjusted balance 11 12 Cash balance according to company's records 13 Adjustments: 14 Proceeds from Notes collcetion 2120 15 Error in recording check ($130-$310) =130-310 16 Bank service charges -25 17 NSF check 18 Total adjustments 19 Adjusted balance =+B6+B7+B8 =+C4+C9 =5140+39175-40520 -880 =+B14+B15+B16+B17 =+C12+C18

Credit Debit $ 2,120 Date Account Titles and Explanation Oct-31 Cash Notes receivable Interest revenue (To record the notes collection) $ 2,000 $ 120 $ 180 Oct-31 Accounts payable Cash (To record the correcting entry) $ 180 25 Oct-31 Miscellaneous expense $ Cash (To record the bank service charges) $ 25 $ 880 Oct-31 Accounts receivable Cash (To record the NSF check) $ 880 3) Amount should be reported as cash is $4,830.