Prepare a bank reconciliation for Josey s Fresh Deli at June
Prepare a bank reconciliation for Josey’s Fresh Deli at June 30 using the following information:
Balance per USA National Bank statement at June 30 ....$15,398.05
Outstanding checks ................... 3,215.83
NSF checks from customer ................ 250.68
Deposits in transit .................. 2,452.87
Interest revenue ................... 251.32
Service charge .................... 15.00
Cash balance per Josey’s records at June 30 ......... 14,649.45
Enter adjustments into the accounting equation needed to update the company’s cash balance. What is the net effect on net income? Will net income be increased or decreased? By what amount?

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