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You Have Recently Started a Part Time Job in the Accounting

Question 183

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You have recently started a part time job in the accounting department of Burris Limited. The accountant, Ted Landry, had prepared the company's bank reconciliation for June 20X3. After completing the reconciliation, he made the following journal entry:
 June 30 Cash 2,390 Bank Charges Expense 124 Accounts Receivable ($3,000 collection less $5002,500 NSF)  Interest Earned 14\begin{array} { | l | l | r | r | } \hline \text { June } 30 & \text { Cash } & 2,390 & \\\hline & \text { Bank Charges Expense } & 124 & \\\hline & \text { Accounts Receivable } ( \$ 3,000 \text { collection less } \$ 500 & & 2,500 \\& \text { NSF) } & & \\\hline & \text { Interest Earned } & & 14 \\\hline\end{array} Ted was reviewing the bank reconciliation with you when, unfortunately, you spilled your coffee on it. He asks you to rewrite the reconciliation, in good form. He remembers that the only outstanding deposit was the last deposit for the month. You check the general ledger and the bank balance at June 30 was $24,527 (credit). You also check the bank statement and the balance was $22,314 (credit, i.e. overdrawn). You look up the last deposit for the month-it was for $21,789. Required: Using the above information prepare, in good form, the bank reconciliation for Burris Limited for June.

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BURRIS LIMITED
Bank Reconciliation
Jun...

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