Question - Prepare a bank reconciliation in good form along with adjusting journal entries for the following as of 12/31/2016:
|
Bank Statement
|
|
Checks
|
Deposits
|
|
Date
|
Number
|
Amount
|
Date
|
Amount
|
|
12-1
|
3451
|
$2,260.40
|
12-1
|
$ 2,530.20
|
|
12-2
|
3471
|
844.50
|
12-4
|
1,211.60
|
|
12-7
|
3472
|
1,426.80
|
12-8
|
2,365.10
|
|
12-4
|
3475
|
1,640.70
|
12-16
|
2,672.70
|
|
12-8
|
3476
|
1,300.00
|
12-21
|
2,945.00
|
|
12-10
|
3477
|
2,130.00
|
12-26
|
2,567.30
|
|
12-15
|
3479
|
3,080.00
|
12-29
|
2,836.00
|
|
12-27
|
3480
|
600.00
|
12-30
|
1,025.00
|
|
12-30
|
3482
|
475.50
|
Total
|
$18,152.90
|
|
12-29
|
3483
|
1,140.00
|
|
|
|
12-31
|
3485
|
520.80
|
|
|
|
Total
|
$15,418.70
|
|
|
The cash records per books for December showed the following.
|
Cash Payments Journal
|
Cash Receipts Journal
|
|
Date
|
Number
|
Amount
|
Date
|
Number
|
Amount
|
Date
|
Amount
|
|
12-1
|
3475
|
$1,640.70
|
12-20
|
3482
|
$475.50
|
12-3
|
$ 1,211.60
|
|
12-2
|
3476
|
1,300.00
|
12-22
|
3483
|
1,140.00
|
12-7
|
2,365.10
|
|
12-2
|
3477
|
2,130.00
|
12-23
|
3484
|
791.50
|
12-15
|
2,672.70
|
|
12-4
|
3478
|
621.30
|
12-24
|
3485
|
250.80
|
12-20
|
2,954.00
|
|
12-8
|
3479
|
3,080.00
|
12-30
|
3486
|
889.50
|
12-25
|
2,567.30
|
|
12-10
|
3480
|
600.00
|
Total
|
|
$13,726.70
|
12-28
|
2,836.00
|
|
12-17
|
3481
|
807.40
|
|
|
|
12-30
|
1,025.00
|
|
|
|
|
|
|
12-31
|
1,690.40
|
|
|
|
|
|
|
Total
|
$17,322.10
|
The bank statement contained two memoranda:
1. A credit of $5,285 for the collection of a $5,140 note for Paris Company plus interest of $160.00 and less a collection fee of $15.00. Paris Company has not accrued any interest on the note.
2. A debit of $579.30 for an NSF check written by a customer. At December 31, the check had not been redeposited in the bank.
At December 31, the cash balance per books was $14,285.20, and the cash balance per the bank statement was $21,907.80. The bank did not make any errors, but two errors were made by Paris Company.