Ivanhoe Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2017, the company's Cash account per its general ledger showed a balance of $6,803.90 The bank statement from Emporia State Bank on that date showed the following balance.

A comparison of the details on the bank statement with the details in the Cash account revealed the following facts

The statement included a debit memo of $53.00 for the printing of additional company checks

Cash sales of $896.15 on May 12 were deposited in the bank. The cash receipts journal entry and the deposit sip were incorrectly made for $946 15 The bank credited the whole Company for the correct amount. ,

Outstanding decks at May 31 totaled $267.25, and deposits in transit were %1,893.15.

On May 18, the company issued check No.1181 for $686.00 to H. Moses, on the account. The check, which cleared the bank in May, was incorrectly journali. zed and posted by Ivanhoe Company for $668.00

A $2,768.00 note receivable was collected by the bank for Ivanhoe Company on May 31 through electronic funds transfer

Included with the canceled checks was check issued by Tomins Company to C Ivanhoe Company by the bank nod S347 00 that was incorrectly charged to

On May 31, the bank statement showed an NSF charge of $445.00 for a cheque issued by Sara Ballard, a customer, to Ivanhoe Company on the account.

Prepare the bank reconciliation on May 31, 2017(List items that increase balance as per bank & books first.) IVANHOE COMP

Prepare the necessary adjusting entries for Ivanhoe Company on May 31, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually

Bank Reconciliation:
The bank reconciliation process is undertaken at least monthly in order to identify differences between the cash ledger and the bank statements and reconcile the ending balances.