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Bank Reconciliation and Entries The cash account for Norwegian Medical Co. at April 30 indicated a balance of $14,585. The bank statement indicated a balance of $16,800 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $6,050. b. A deposit of $6,300, representing receipts of April 30, had been made too late to appear on the bank statement. c. The bank collected $3,280 on a $3,110 note, including interest of $170. d. A check for $550 returned with the statement had been incorrectly recorded by Norwegian Medical Co. as $500. The check was for the payment of an obligation to Universal Supply Co. for a purchase on account. e. A check drawn for $80 had been erroneously charged by the bank as $800. f. Bank service charges for April amounted to $45. Required: 1. Prepare a bank reconciliation. Norwegian Medical Co. Bank Reconciliation April 30 Cash balance cording to bank statement Adjusted balance Cash balance according to company's records A

Bank Reconcillation and Entries The cash account for Norwegian Medical Co. at April 30 indicated a balance of $14,585. The bank statement indicated a balance of $16,800 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $6,050. b. A deposit of $6,300, representing receipts of April 30, had been made too late to appear on the bank statement. c. The bank collected $3,280 on a $3,110 note, including interest of $170. d. A check for $550 returned with the statement had been incorrectly recorded by Norwegian Medical Co. as $500. The check was for the payment of an obligation to Universal Supply Co. for a purchase on account. e. A check drawn for $80 had been erroneously charged by the bank as $800. f. Bank service charges for April amounted to $45. Required: 1. Prepare a bank reconciliation

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