Wright Company deposits all cash receipts on the day when they are received and it...
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Wright Company deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on May 31, 2015, its Cash account shows a $30,900 debit balance. The company's May 31 bank statement shows $29,200 on deposit in the bank. a. The May 31 bank statement included a $270 debit memorandum for bank services, the company has not yet recorded the cost of these services b. Outstanding checks as of May 31 total $7,300 c. May 31 cash receipts of $7,900 were placed in the bank's night depository after banking hours and were not recorded on the May 31 bank statement. Wright's account. recorded this NSF check. d. In reviewing the bank statement, a $570 check written by Smith Company was mistakenly drawn against e. A debit memorandum for $260 refers to a $260 NSF check from a customer, the company has not yet Prepare a bank reconciliation for the company using the above information WRIGHT COMPANY ank Reconciliation May 31, 2015 Bank statement balance Book balance Add Add Deduct: Deduct: Adjusted bank balance 0 Adjusted book balance
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