Question :
This data relates to the Cash account in the ledger of Hawkins Company.
Balance September 1-$16,400; Cash deposited-$64,000
Balance September 30-$17,600; Checks written-$62,800
The September bank statement indicates a balance of $16,500 at September 30 and the subsequent memoranda.
Credits Debits
Collection of $1,800 note plus interest $30 $1,830 NSF ensure: H. Juno $560
Interest earned on checking account 45 Safety deposit box rent 60
At September 30, deposits in transit were $4,738 and outstanding checks totaled $2,383.
Instructions
(a) Purpose the bank reconciliation at 30th September, 2012.
(b) Purpose the adjusting entries at September 30, consider the NSF check was from a customer on account, and no interest had been accrued on the note.