The Ryan Manufacturing Company received its bank statement for the month ending May 31.The bank statement indicates a balance of $32,400.The cash account as of the close of business on May 31 has a balance of $8,350.In reconciling the balances,the following items are discovered.
(a)Collection by bank of note for $1,500 less collection fees of $250.
(b)Deposits in transit,$51,000.
(c)The bank charged the depositor $800 for overdrafts.
(d)Checks outstanding on May 31,$79,100.
(e)A canceled check issued to Kate Corp.for $4,500 was not recorded on Ryan Manufacturing Company's books.
Prepare a bank reconciliation statement.(Use the format of reconciling bank and depositor figures to corrected cash balance.)

Question

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The Answer of The Ryan Manufacturing Company received its bank statement for the month ending May 31.The bank statement indicates a balance of $32,400.The cash account as of the close of business on May 31 has a balance of $8,350.In reconciling the balances,the following items are discovered.
(a)Collection by bank of note for $1,500 less collection fees of $250.
(b)Deposits in transit,$51,000.
(c)The bank charged the depositor $800 for overdrafts.
(d)Checks outstanding on May 31,$79,100.
(e)A canceled check issued to Kate Corp.for $4,500 was not recorded on Ryan Manufacturing Company's books.
Prepare a bank reconciliation statement.(Use the format of reconciling bank and depositor figures to corrected cash balance.)

The Ryan Manufacturing Company Received Its Bank Statement for the Month