Kane Inc.'s bank statement from Western Bank at August 31, 2010, gives the following information. Balance, August

Kane Inc.'s bank statement from Western Bank at August 31, 2010, gives the following information. 

Balance, August 1 $16,400 Bank debit memorandum: 

A summary of the Cash account in the ledger for August shows the following: balance, August 1, $16,900; receipts $77,157; disbursements $73,510; and balance, August 31, $20,547.
Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $5,000 and outstanding checks of $4,500. In addition, you determine that there was an error involving a company check drawn in August: A check for $400 to a creditor on account that cleared the bank in August was journalized and posted for$40

Transcribed Image Text:

August deposits Checks cleared in August Bank credit memorandum Interest eamed Safety deposit box fee Service charge Balance, August 31 S 85 110 20,867 68,600 105