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Required information PA5-3(Algo) Identifying Outstanding Checks and Deposits in Transit and Preparing a Bank...

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Accounting

Required information
PA5-3(Algo) Identifying Outstanding Checks and Deposits in Transit and Preparing a Bank Reconciliation and Journal Entries [LO 5-4, LO 5-5]
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[The following information applies to the questions displayed below.]
The December bank statement and cash T-account for Stewart Company follow:
BANK STATEMENT
Date Checks Deposits Other Balance
December 1 $ 58,800
December 6 $ 7,71051,090
December 11640 $ 28,00078,450
December 1718,40060,050
December 2337,00097,050
December 2664096,410
December 3025,50019,000 NSF* $ 39089,520
December 31 Interest earned 9589,615
December 31 Service charge 24089,375
* NSF check from J. Left, a customer.
Cash (A)
Debit Credit
December 1 Balance 58,800
Deposits Checks written during December:
December 1128,0007,710
December 2337,000640
December 3019,00018,400
December 3114,000640
240
25,500
5,850
December 31 Balance 97,820
There were no deposits in transit or outstanding checks at November 30.

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