Question

Problem 7-13 (Part Level Submission) The cash account of Bonita Co. showed a ledger balance of $10,985.98 on June 30, 2017. The bank statement as of that date showed a balance of $11,620.00. Upon comparing the statement with the cash records, the following facts were determined. 1. There were bank service charges for June of $70.00. 2. A bank memo stated that Bao Dai’s note for $3,360.00 and interest of $100.80 had been collected on June 29, and the bank had made a charge of $15.40 on the collection. (No entry had been made on Bonita’s books when Bao Dai’s note was sent to the bank for collection.) 3. Receipts for June 30 for $9,492.00 were not deposited until July 2. 4. Checks outstanding on June 30 totaled $5,980.94. 5. The bank had charged the Bonita Co.’s account for a customer’s uncollectible check amounting to $708.96 on June 29. 6. A customer’s check for $252.00 (as payment on the customer’s Accounts Receivable) had been entered as $168.00 in the cash receipts journal by Bonita on June 15. 7. Check no. 742 in the amount of $491.00 had been entered in the cash journal as $419.00, and check no. 747 in the amount of $162.96 had been entered as $1,629.60. Both checks had been issued to pay for purchase of equipment and were payments on Bonita’s Accounts Payable. Collapse question part (a) Prepare a bank reconciliation dated June 30, 2017, proceeding to a correct cash balance. (

Answer 1