Miller Corporations December 31, 2019, bank statement showed a $2,049.25 balance. On this date, Millers...
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Miller Corporations December 31, 2019, bank statement showed a $2,049.25 balance. On this date, Millers Cash account reflected a $146.90 overdraft. In reconciling these amounts, the following information is discovered:
1.
Cash on hand for undeposited sales receipts, December 31, $130.25.
2.
Customer NSF check returned with bank statement, $419.20.
3.
Cash sales of $634.25 for the week ended December 18 were recorded on the books. The cashier reports this amount missing, and it was not deposited in the bank.
4.
Note receivable of $2,400.00 and interest of $24 collected by the bank and not recorded on the books.
5.
Deposit in transit December 31, $330.00.
6.
A customer check for $195.40 in payment of its account was recorded on the books at $945.10.
7.
Outstanding checks, $2,035.55. Includes a duplicate check of $70.85 to C. Brown, who notified Miller that the original was lost. Miller stopped payment on the original check and has already adjusted the cash account in the accounting records for this amount.
Required:
1.
Prepare a December 31 bank reconciliation for Miller.
2.
Prepare any journal entries necessary by Miller to record the information from Requirement 1.
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