Question - The following information pertains to the bank transactions of Crawford Company:
a. Cash on the books as of September 30 was $499. Cash as shown on the bank statement for the same date was $1,330.
b. A deposit of $160, representing cash receipts of September 30, did not appear on the bank statement.
c. Outstanding checks totaled $240.
d. Bank service charges for September amounted to $9.
e. The bank collected for Crawford Company $840 (which includes $40 interest) on a note left for collection.
f. An NSF check for $80 from a customer, Jack Betz, was returned with the statement.
Required:
1. Prepare a bank reconciliation for Crawford Company as of September 30.
2. Prepare the necessary journal entries to update the Cash account.
3. State the amount of cash that would appear on the balance sheet as of September 30.