\begin{tabular}{|lr|l} & \multicolumn{1}{|c|}{ Debit } \\ \cline { 1 } Cash & $18,400 & \\ \hline Notes Receivable & 2,000 & Accumulated Depreciation-Equants Payable \\ Accounts Receivable & 7,600 & Common Stock \\ Inventory & 16,500 & Retained Earnings \\ Prepaid Insurance & 1,600 & \\ Equipment & 27,800 \\ \hline & $73,900 \\ \hline \end{tabular} During December, the company completed the following transactions. Dec. 7 Received $3,600 cash from customers in payment of account (no discount allowed). 12 Purchased merchandise on account from Vance C0,$13,000, terms 1/10,n/30. 17 Sold merchandise on account $16,500, terms 2/10,n/30. The cost of the merchandise sold was $9,100. 19 Paid salaries $2.300. 22 Paid Vance Co, in full, less discount. 26 Received collections in full, less discounts, from customers billed on December 17. 31 Received $2,700 cash from customers in payment of account (no discount allowed). Adjustment data: 1. Depreciation was $200 per month. 2. Insurance of $390 expired in December. The statement from Jackson County Bank on December 31 showed a balance of $25.600. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank collected a note receivable of $2,000 for Concord Corporation on December 15 through electronic funds transfer. 2. The December 31 receipts were deposited in a night deposit vauit on December 31 . These deposits were recorded by the bank in January. 3. Checks outstanding on December 31 totaled $1,300. 4. On December 31, the bank statement showed an NSF charge of $700 for a check received by the company from L Bryan, a customer, on account. Prepare a bank reconciliation as of December 31 based on the available information. (Hint: The cash balance per books is $25,700. This can be proven by finding the balance in the Cash account from parts (a) and (b).) (List items that increase cash balance first. Reconcile cash balance per bank first.) Notes Receivable Accounts Receivable Accounts Receivable Prepaid insurance Accumulated Depreclation-Equipment Equipment 12/1 Bal. 27,800 Accumulated Depreciation-Equipment Sales Discounts Salaries and Wages Expense Depreciation Expense eTextbook and Media List of Accounts