Question

Check my Oscar's Red Carpet Store maintains a checking account with Academy Bank. Oscar's sells carpet each day but makes bank deposits only once per week. The following provides information from the company's cash ledger for the month ending February 28, 2021. Deposits: Date 2/4 2/11 2/18 2/25 2/26-2/28 Amount $ 1,900 Checks: 1,500 2,400 3,300 800 $ 9,900 No. 321 322 323 324 325 326 327 Date 2/2 2/8 2/12 2/19 2/27 2/28 2/28 Amount $3,900 550 1,700 1,400 350 Cash receipts: 850 1,100 $9,850 Balance on February 1 Receipts Disbursements Balance on February 28 $ 6,000 9,900 (9,850) $ 6,050 Information from February's bank statement and company records reveals the following additional information: < Prev 4 of 4 * Next > rch

Answer 1

OSCAR'S RED CARPET STORE
Bank Reconciliation
February 28, 2021
Bank's Cash Balance		Company's Cash Balance
Per Bank statement	9095	Per general ledger	6050
Cash receipts outstanding	800	Check 323 wrongly recorded	-800
Checks outstanding	-1450	Automatic withdrawal	-1100
Customer check not cleared	350	Interest earned	120
		Payment against loan with interest	4650
		Bank charges	-125
Bank balance per reconciliation	8795	Company balance per reconciliation	8795

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