Organic Foods Co's cash account shows a $5,500 debit balance and its bank statement shows $5,160 on deposit at close of business on August 31. Prepare a bank reconciliation using the following information. a) August 31 cash receipts of $1,240 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement. b) The bank statement shows a $120 NSF check from a customer; the company 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 Organic Fruits was mistakenly drawn against Organic Food's account.
Organic Foods Co's cash account shows a $5,500 debit balance and its bank statement shows $5,160 on deposit at close of business on August 31. Prepare a bank reconciliation using the following information.
a) August 31 cash receipts of $1,240 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement.
b) The bank statement shows a $120 NSF check from a customer; the company 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 Organic Fruits was mistakenly drawn against Organic Food's account.
e) The August 31 bank statement lists $20 in bank service charges; the company has not yet recorded the cost of these services.
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