Question

on Hay 31, 2017. Reber Company had a cash balance per books or ss 91150. The bara statement from New York State Bri on that sincwed·tawceofses460 accout revealed the following facts. concert n ofthgatement.it th ast . The statement included a debit memo of $46.00 for the printing of additional company checks 2. Cash sales of $733.00 on May 12 were depesited in the bank. The cash receipes journal entry and the deposit slip were incorrectly made fer $78300. The bank credited Reber Compary for the correct amount 3. Outstanding checks at May 31 totaled $715.25. Deposits in transit were $2,546 1S On May 18, the company issued check No. 1181 for $662 to Lynda Carsen on account. The check, which cleared the bank in May, was incornectly jounaized and posted by Reber Company for $626 S. A $3,130.00 note recelvable was collected by the bank for Reber Company on May 31 plus $86.00 interest. The bank charged a collection fee of $26.00. No interest has been accrued on the inate. 6. Douded with the canceled checks was check issued by Sener Company to Ted Cress for S 93000 that-es roomectly harped to Reber Company by the bank, 7. On May 31, the bank statement showed an NSF charge of $674.00 for a check issued by Sue Allison, a customer, to Reber Company on account Prepare the bank reconcliation at May 31, 2017, (Round answers to 2 decimal places, e.g.52.75.List items that increase cash balance first. Reconcile cash balance per bank first.) May 31, 2017

Answer 1

Answer 1:

Answer 2:

Journal entries (in order presented in problem with applicable transaction serial noes)

Account Title and explanation Miscellaneous expense Transaction # DATE POST. REF. DEBIT CREDIT May. 31 $46 Cash $46 (to record check printing expenses) 2 May. 31 Sales $50 Cash $50 (to record error in deposit 4 May. 31 Account Payable-Linda Carsorn $36 Cash $36 (to record error in recording check) Cash Miscellaneous Expense $3,190 $26 May. 31 Notes Receivable $3,130 Interest Revenue 86 (to record notes receivable 7 May. 31 Accounts Receivable Sue Allison $674 Cash $674 (to record check returned due to NSF