Бапк кеconcmationMongelluzzo Food Co.'s Cash account shows a $5,500 debit balance and its bankstatement shows $5,160 on deposit at the close of business on August 31. Preparea bank reconciliation using the following information.a. August 31 cash receipts of $1,240 were placed in the bank's nightdepository after banking hours and were not recorded on the August 31bank statement.b. The bank statement shows a $120 NSF check from a customer; thecompany has not yet recorded this NSF check.c. Outstanding checks as of August 31 total $1,120.d. In reviewing the bank statement, an $80 check written by MongelluzzoFruits was mistakenly drawn against Mongelluzzo Food's account.e. The August 31 bank statement lists $20 in bank service charges; thecompany has not yet recorded the cost of these services.

A bank reconciliation statement is a summary of banking and business activity that reconciles an…

Mongelluzzo Food Co.'s Cash account shows a $5,500 debit balance and its bank statement shows $5,160 on deposit at the close of business on August 31. Prepare a bank reconciliation using the following information.

Mongelluzzo Food Co.'s Cash account shows a $5,500 debit balance and its bank statement shows $5,160 on deposit at the close of business on August 31. Prepare a bank reconciliation using the following information.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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