Question

Del Gato Clinic deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on June 30, 2016, its Cash account shows an $16,485 debit balance. Del Gato Clinic’s June 30 bank statement shows $15,577 on deposit in the bank.

Outstanding checks as of June 30 total $1,661.

The June 30 bank statement included a $95 debit memorandum for bank services.

Check No. 919, listed with the canceled checks, was correctly drawn for $289 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $298.

The June 30 cash receipts of $2,483 were placed in the bank’s night depository after banking hours and were not recorded on the June 30 bank statement.

Prepare a bank reconciliation for Del Gato Clinic using the above information

2. Prepare the adjusting journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Answer 1

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