The cash balance per books for Potter Company on September 30, 2022 is $10,740.93. The following checks and receipts were recorded for the month of October, 2022: In addition, the bank statement for the month of October is presented below: Check No. 28 was correctly written for $707.62 for a payment on account. The NSF check was from M. Short, a customer, in settlement of an accounts receivable. An entry had not been made for the NSF check. The credit memo is for the collection of a note receivable including interest of $80 which has not been accrued. The bank service charge is $25.00.
Instructions
(a) Prepare a bank reconciliation at October 31.
(b) Prepare the journal entries required by the bank reconciliation.

Question

The cash balance per books for Potter Company on September 30, 2022 is $10,740.93. The following checks and receipts were recorded for the month of October, 2022:  In addition, the bank statement for the month of October is presented below:  Check No. 28 was correctly written for $707.62 for a payment on account. The NSF check was from M. Short, a customer, in settlement of an accounts receivable. An entry had not been made for the NSF check. The credit memo is for the collection of a note receivable including interest of $80 which has not been accrued. The bank service charge is $25.00.
Instructions
(a) Prepare a bank reconciliation at October 31.
(b) Prepare the journal entries required by the bank reconciliation.

Quizplus · Accepted Answer

The Answer of The cash balance per books for Potter Company on September 30, 2022 is $10,740.93. The following checks and receipts were recorded for the month of October, 2022:  In addition, the bank statement for the month of October is presented below:  Check No. 28 was correctly written for $707.62 for a payment on account. The NSF check was from M. Short, a customer, in settlement of an accounts receivable. An entry had not been made for the NSF check. The credit memo is for the collection of a note receivable including interest of $80 which has not been accrued. The bank service charge is $25.00.
Instructions
(a) Prepare a bank reconciliation at October 31.
(b) Prepare the journal entries required by the bank reconciliation.

The Cash Balance Per Books for Potter Company on September