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Q2) Following are details for the cash account for the month of June 2019 and...

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Accounting

Q2) Following are details for the cash account for the month of June 2019 and the June 30, 2019 bank statement for DEF Company.

Cash account

Date

Explanation

Debits

Credits

Balance

June 1

Balance

$5,600

June 1-30

Deposits

$32,000

37,600

June 1-30

Checks

$29,800

7,800

June 30

Balance

7,800

The June bank statement, just received, showed the following:

June 1, balance

$5,600

Deposits made in June

29,000

Interest paid by the bank in June

130

Checks paid in June

(27,500)

Bank service charge for June

(50)

NSF Charged (Brad Jolie, check returned for nonsufficient funds)

(150)

June 30, balance

$7,030

There were neither outstanding checks nor deposits in transit at May 31, 2019.

A. Prepare the bank reconciliation at June 30, 2019.

B. Prepare the adjusting journal entries needed as a result of preparing the bank reconciliation.

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