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The Cash account of Aguilar Co$.$ showed a ledger balance of $$3,969\mathrm{.}85$ on June $30,2022.$ The

bank statement as of that date showed a balance of $$4,150.$ Upon comparing the statement with

the cash records, the following facts were determined.

a$)$ There were bank service charges for June of $$25.$

b$)$ A bank memo stated that Bao Dai's note for $$1,200$ and interest of $$36$ had been

collected on June $29,$ and the bank had made a charge of $$5\mathrm{.}50$ on the collection. $($No

entry had been made on Aguilar's books when Bao Dai's note was sent to the bank for

collection.$)$

c$)$ Receipts for June $30$ for $$3,390$ were not deposited until July $2.$

d$)$ Checks outstanding on June $30$ totaled $$2,136\mathrm{.}05.$

e$)$ The bank had reduced Aguilar Co$.\text{'}$s account for a customer's uncollectible check

amounting to $$253\mathrm{.}20$ on June $29.$

f$)$ A customer's check for $$90($payment on account$)$ had been entered as $$60$ in the cash

receipts journal by Aguilar on June $15.$

g$)$ Check no$.742$ in the amount of $$491$ had been entered in the cash journal as $$419,$ and

check no$.747$ in the amount of $$58\mathrm{.}20$ had been entered as $$582.$ Both checks had been

issued to pay for purchases of equipment

Instructions

a$)$ Prepare a bank reconciliation dated June $30,2022,$ proceeding to a correct cash balance.

Answer & Explanation Solved by verified expert

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