Question - A review of the June 30 bank statement and other data of Jordan Company reveals the following1. Balance per bank statement on June 30....$1,950.
2. Balance per book on June 30...460.
3. NSF Check from R. Angel in payment of account...420.
4. Collection of 2,000, 6 month, 5% note with a 25 collection fee. No interest had been accrued...2,025.
5. Deposit in transit at June 30...3,550.
6. Outstanding checks at June 30...4,120.
7. A check written by Jordan to O'Shea for salary on June 10 was recorded at 540 but correctly cleared the bank at 450.
8. A check drawn on the account of Riverside Company for 775 was mistakenly charged against Jordan's account by the bank.
Prepare the June 30 (a) bank reconciliation (omit heading) and (b) related journal entries.
1. Bank Reconciliation: Bank per bank statement Amount $ Balance per books Amount $
2. Adjusted balance per bank $ Amount, Adjusted balance per book $ Amount.