The bank statement for Farmer Co. indicates a balance of $7,735 on June 30. After the journals for June were posted, the cash account had a balance of $4,098. Prepare a bank reconciliation on the basis of the following reconciling items: Cash sales of $742 were erroneously recorded in the cash receipts journal as $724. Deposits in transit not recorded by bank, $425. Bank debit memo for service charges, $35. Bank credit memo for note collected by bank, $2,475 including $75 interest. Bank debit memo for $256 NSF (not sufficient funds) check from Janice Smith, a customer. Checks outstanding, $1,860.   Farmer Co. Bank Reconciliation June 30 Cash balance according to bank statement   $fill in the blank 1     fill in the blank 3     $fill in the blank 4     fill in the blank 6 Adjusted balance   $fill in the blank 7 Cash balance according to company's records   $fill in the blank 8   $fill in the blank 10     fill in the blank 12 fill in the blank 13     $fill in the blank 14   $fill in the blank 16     fill in the blank 18 fill in the blank 19 Adjusted balance   $fill in the blank 20

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Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.