Preparing a bank reconciliation statement.
Di Sisto Office Supply Company received a bank statement showing a balance of $68,505 as of March 31, 2016. The firm’s records showed a book balance of $69,547 on March 31. The difference between the two balances was caused by the following items. Prepare a bank reconciliation statement for the firm as of March 31 and the necessary journal entries from the statement.
1. A debit memorandum for $60, which covers the bank’s collection fee for the note.
2. A deposit in transit of $4,200.
3. A check for $258 issued by another firm that was mistakenly charged to Di Sisto’s account.
4. A debit memorandum for an NSF check of $6,185 issued by Wilson Construction Company, a credit customer.
5. Outstanding checks: Check 3782 for $2,700; Check 3840 for $161.
6. A credit memorandum for a $6,800 noninterest-bearing note receivable that the bank collected for the firm.
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