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Kingbird, Inc.s bank statement from Main Street Bank at August 31, 2022, gives the following...

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Accounting

Kingbird, Inc.s bank statement from Main Street Bank at August 31, 2022, gives the following information.

Balance, August 1

 $18,500

Bank debit memorandum:

August deposits

 71,100

Safety deposit box fee

 $ 35

Checks cleared in August

 68,668

Service charge

 60

Bank credit memorandum:

Balance, August 31

 20,892

Interest earned

 55

A summary of the Cash account in the ledger for August shows the following: balance, August 1, $18,800; receipts $74,100; disbursements $73,560; and balance, August 31, $19,340. Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $4,810 and outstanding checks of $4,510. In addition, you determine that there was an error involving a company check drawn in August: A check for $400 to a creditor on account that cleared the bank in August was journalized and posted for $40.

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