Question

Prepare a cash reconciliation for the month ending April 30, 2019 for Acme Products using the...

Prepare a cash reconciliation for the month ending April 30, 2019 for Acme Products using the following information. Also, journalize the two adjustments necessary.

A The bank's ending cash balance is $98,600.

B The ledger balance (company balance) is $82,455.

C There are outstanding checks totaling $14,870.

D There is one deposit in transit $4,500.

E The bank charged Acme a $125 service fee.

F One of Acme's customers paid $5,000 on account via an EFT transfer to Acme's checking account. Acme has not yet recorded this transaction

G The bank made an error by recording a deposit as $1,000 instead of $100.

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