The cash data of Alta Vista Toyota for June 20X4 follow:

Alta Vista received the following bank statement on June 30, 20X4:
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Explanation: EFT-electronic funds transfer, BC-bank collection, US-unauthorized signature, SC-service charge.
Additional data for the bank reconciliation include the following:
a. The EFT deposit was a receipt of monthly rent. The EFT debit was a monthly insurance payment.
b. The unauthorized signature check was received from a customer.
c. The correct amount of check number 3115, a payment on account, is $1,390. (Alta Vista's accountant mistakenly recorded the check for $1,930.)
Required
1. Prepare the Alta Vista Toyota bank reconciliation at June 30, 20X4.
2. Describe how a bank account and the bank reconciliation help the general manager control Alta Vista's cash.

Transcribed Image Text:

Cash Debit Balance 5,011 15,589 4,665 Date Item Jml. Ref. Credit June 1 30 30 Balance CR 6 CP11 10,578 10,924 170 943 81964 5 N-34567890121 3333333333T bi 4 797407-8 585 518035 28062901 3 Bank Statement for June 20X4 Beginning balance. Deposits and other additions: 5,011 June 326 EFT 407 559 2,187 12. 1,701 BC 11,208 Checks a nd other deductions: 903 US 147 664 30 1,000 20 SC (6,706) $9,513 30..