Question: =+EX 8-20 Entries for note collected by bank obj. 5 An accounting clerk for Grebe Co. prepared the following bank reconciliation: Grebe Co. Bank Reconciliation

=+EX 8-20 Entries for note collected by bank obj. 5 An accounting clerk for Grebe Co. prepared the following bank reconciliation:

Grebe Co.

Bank Reconciliation August 31, 2010 Cash balance according to company’s records . . . . . . . . . . . . . . . . $ 4,690 Add: Outstanding checks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,110 Error by Grebe Co. in recording Check No. 1115 as $940 instead of $490 . . . . . . . . . . . . . . . . . . . 450 Note for $6,500 collected by bank, including interest. . . . . . . . 6,630 10,190 ______ _______ Deduct: Deposit in transit on August 31 . . . . . . . . . . . . . . . . . . . . $4,725 $14,880 Bank service charges . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 4,755 ______ _______ Cash balance according to bank statement . . . . . . . . . . . . . . . . . . $10,125 _______ _______

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