Question
The following information is available for Blue Moon Company regarding its June 30, 2010, bank statement:...
The following information is available for Blue Moon Company regarding its June 30, 2010, bank statement:
- Balance per bank statement is $10,300.34.
- Balance per books is $9,652.78.+ Cheque #506 for $1,948.52 and cheque #510 for $1,600.25 were not returned with the June 30 bank statement.
- A deposit in transit of $4,562.21 had not been received by the bank when the bank statement was generated.
- A bank debit memo indicated an NSF cheque written by Bruce Garrett to Blue Moon Company on June 13 for $279.
- A bank credit memo indicated a bank collection of $1,900 and interest revenue of $75 on June 20.
- The bank statement indicated service charges of $35.
Requirement 1: Prepare June 30 Bank Reconciliation
Requirement 2: Prepare June 30 Adjusting entries resulting from the bank reconciliation
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