Question: Identify the errors in the following bank reconciliation: DAKOTA CO. Bank Reconciliation For the Month Ended June 30, 20Y3 Cash balance according to bank statement

Identify the errors in the following bank reconciliation:

DAKOTA CO. Bank Reconciliation For the Month Ended June 30, 20Y3 Cash balance according to bank statement Add outstanding checks: $22,900 No. 7715 7760 7764 7765 $1,450 915 1,850 775 4,990 $27,890 Deduct deposit of June 30, not recorded by bank Adjusted balance Cash balance according to company's records Add: Proceeds of note collected by bank: $21,690 $15,625 Principal Interest $6,000 360 $6,360 30 Service charges 6,390 $22,015 2.700 B2 $18,770 Deduct: Check returned because of insuffici t funds 545 Error in recording June 20 deposit of $5,200 as $2,500 Adjusted balance

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