Roper Electronics received its bank statement for the month of August with an ending balance of $11,740.Roper determined that check #613 for $155 and check #601 for $420 were both outstanding.Also,a $6,900 deposit for August 30 was in transit as of the end of the month.Northern Regional Bank also collected a $5,000 note receivable on August 1 that was issued March 1.Accrued interest is $250.Northern Regional Bank charged a $35 fee for the collection service.The bank statement reveals a bank service charge of $20.A customer check for $68 was returned with the bank statement marked "NSF." The ending balance of the Roper cash account is $12,938.

Prepare a bank / account reconciliation and any necessary journal entries for the reconciliation.

Question

Roper Electronics received its bank statement for the month of August with an ending balance of $11,740.Roper determined that check #613 for $155 and check #601 for $420 were both outstanding.Also,a $6,900 deposit for August 30 was in transit as of the end of the month.Northern Regional Bank also collected a $5,000 note receivable on August 1 that was issued March 1.Accrued interest is $250.Northern Regional Bank charged a $35 fee for the collection service.The bank statement reveals a bank service charge of $20.A customer check for $68 was returned with the bank statement marked "NSF." The ending balance of the Roper cash account is $12,938.
​
Prepare a bank / account reconciliation and any necessary journal entries for the reconciliation.

Quizplus · Accepted Answer

The Answer of Roper Electronics received its bank statement for the month of August with an ending balance of $11,740.Roper determined that check #613 for $155 and check #601 for $420 were both outstanding.Also,a $6,900 deposit for August 30 was in transit as of the end of the month.Northern Regional Bank also collected a $5,000 note receivable on August 1 that was issued March 1.Accrued interest is $250.Northern Regional Bank charged a $35 fee for the collection service.The bank statement reveals a bank service charge of $20.A customer check for $68 was returned with the bank statement marked "NSF." The ending balance of the Roper cash account is $12,938.
​
Prepare a bank / account reconciliation and any necessary journal entries for the reconciliation.

Roper Electronics Received Its Bank Statement for the Month of August