QUESTION - POST INC BANK RECONCILIATION
Cash balance per bank - $8,200
Cash balance per books (general ledger) - $6,500
Outstanding checks - $2,460
Check mailed to the bank for deposit had not reached the bank by the statement date - $500
NSF check returned by the bank for accounts receivable - $100
July interest earned on the bank statement - $20
Check no. 700 for misc. expense cleared the bank for $200; erroneously recorded in the Matrix books for $20
Required -
Prepare a bank reconciliation.
Shown the accounting entries that must be made by Matrix in journal entry and T-Account format.