The following information was available for Romney Supply Company for the month ended May 31, 2015.(a)On May 31, 2015 the Cash account of Romney Supply Company had a balance of $35,850.(b)On May 31, 2015 the bank statement indicated a balance of $54,580 The bank reported the collection of a note receivable for Romney of$7,300 including $500 interest.(d)It was observed that the bank statement did not include a deposit of$4,700 made by Romney on May 31 and that cheques totalling $14,930 issued by Romney had not cleared the bank.(e)Romney recorded an insurance expense payment of $150 as $1,500.(f)Service charges of $150 were charged for cheque printing.Prepare the bank reconciliation at May 31, 2015.

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The Answer of The following information was available for Romney Supply Company for the month ended May 31, 2015.(a)On May 31, 2015 the Cash account of Romney Supply Company had a balance of $35,850.(b)On May 31, 2015 the bank statement indicated a balance of $54,580 The bank reported the collection of a note receivable for Romney of$7,300 including $500 interest.(d)It was observed that the bank statement did not include a deposit of$4,700 made by Romney on May 31 and that cheques totalling $14,930 issued by Romney had not cleared the bank.(e)Romney recorded an insurance expense payment of $150 as $1,500.(f)Service charges of $150 were charged for cheque printing.Prepare the bank reconciliation at May 31, 2015.

The Following Information Was Available for Romney Supply Company for the Month