The cash account for Coastal Bike Co at October Y indicated a balance of $ During October, the total cash deposited was $ and checks written totaled $ The bank statement indicated a balance of $ on October Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items:
a Checks outstanding totaled $
b A deposit of $ representing receipts of October had been made too late to appear on the bank statement.
c The bank had collected for Coastal Bike Co $ on a note left for collection. The face of the note was $
d A check for $ returned with the statement had been incorrectly charged by the bank as $
e A check for $ returned with the statement had been recorded by Coastal Bike Co as $ The check was for the payment of an obligation to Rack Pro Co on account.
f Bank service charges for October amounted to $
g A check for $ from Bay View Condos was returned by the bank due to insufficient funds.
Required:
Prepare a bank reconciliation as of October
Journalize the necessary entries.
