Question - Assume that the following information relates to your most recent bank statement dated September 30:
balance per bank statement at September 30.....................$3,400
Checks written that had not cleared the bank as of September 30:
#203 university tuition $1,500
#205 university bookstore 350
#208 rocco's pizza 25
#210 stereo purchases 425
#211 October apartment rent 500
Interest amounting to $4 was credited to your account by the bank in September. The bank's service charge for the month was $5. In addition to your bank statement, you received a letter from your parents informing you that they had made a $2,400 electronic funds transfer directly into your account on October 2. After reading your parents' letter, you looked in your checkbook and discovered its balance was $601. Adding your parents' deposit brought that total to $3,001. Prepare a bank reconciliation to determine your correct checking account balance. Explain why neither your bank statement nor your checkbook shows this amount.