Accounting 350 - Computer Spreadsheet Assignment #1 (Chapter 7) Brachycephalic Inc. received its September 30, 2018 bank statement. It showed a balance of $10,600. It also showed bank charges of $35, collection of Louis Brandeis note for $1,891 and interest of $52, a collection fee of $11, and that Willy Brandts check of $506.40 was uncollectible. Brachycephalic Inc.s ledger showed a cash balance of $5,362.45.

Comparison of the records with the bank statement revealed the following:

A deposit in transit of $1,756.95.

Checks outstanding on September 30 of

4221 $4,021.00

4225 62.15

4226 1,527.15

The bookkeeper had entered as $81 a $180 customer check that was for payment on account.

Check #4198 for $982 which had been issued to pay utilities had been entered as $829.

Check #4212 for $116.40 which had been issued to buy office supplies had been entered as $164.

1.Prepare the September 30, 2018 bank reconciliation.

2.Prepare the required entries on the books of Brachycephalic Inc.