Business, 02.04.2020 16:02 fordd4

Problem 5-180 [LO 5-4] McDermott Company's bank statement for September 30 showed an ending cash balance of $1,532. The company's Cash account in its general ledger showed a $1,190 debit balance. The following information was also available as of September 30. The bank deducted $190 for an NSF check from a customer deposited on September 15. The September 30 cash receipts, $1,380, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement. A $28 debit memorandum for checks printed by the bank was included with the canceled checks. Outstanding checks amounted to $1,340. Included with the bank statement was a credit memo in the amount of $940 for an EFT in payment of a customer’s account. Included with the canceled checks was a check for $340, drawn on the account of another company. Required: a. Prepare a bank reconciliation as Of September 30. b. Prepare the journal entries for items on the company's bank reconciliation as Of September 30.

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Problem 5-180 [LO 5-4] McDermott Company's bank statement for September 30 showed an ending cash bal...

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