Question - The following information is available for Purple Bay Company regarding its June 30, 2011, bank statement:
-Balance per bank statement is $9,250.34.
- Balance per books is $7,831.78.+ Cheque #432 for $875.52 and cheque #444 for $1,478.25 were not returned with the June 30 bank statement.
- A deposit in transit of $3,651.21 had not been received by the bank when the bank statement was generated.
- A bank debit memo indicated an NSF cheque written by Bruce Garrett to Purple Bay Company on June 13 for $239.
- A bank credit memo indicated a bank collection of $2,900 and interest revenue of $75 on June 20.
- The bank statement indicated service charges of $20.
Required: Prepare bank reconciliation for Purple BAy Company dated June 30, 2011 and any required journal entries.