Roper Electronics received its bank statement for the month of August with an ending balance...
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Accounting
Roper Electronics received its bank statement for the month of August with an ending balance of $11,740. Roper determined that Check No. 613 for $155 and Check No. 601 for $420 were both outstanding. Also, a $6,900 deposit for August 30 was in transit as of the end of the month. Northern Regional Bank also collected a $5,000 note receivable on August 1 that was issued March 1. Accrued interest was $250. Northern Regional Bank charged a $35 fee for the collection service. The bank statement reveals a bank service charge of $20. A customer check for $68 was returned with the bank statement marked "NSF." The ending balance of the Roper cash account is $12,938.
a. Prepare a bank reconciliation.
b. Journalize any necessary entries based on the bank reconciliation. Record the entry to increase cash first. If an amount box does not require an entry, leave it blank.
c. If a balance sheet were prepared for Roper Electronics on August 31, what amount should be reported for cash?
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