Exercise 8-12

Exercise 8-12 The information below relates to the Cash account in the ledger of Minton Company. Cash deposited-$64,150 Balance September 1-$17,400; Balance September 30-$18,004; Checks written-$63,546. The September bank statement shows a balance of $17,022 on September 30 and the following memoranda. Credits Debits Collection of $1,790 note plus interest $40 $1,830 NSF check: Richard Nance $725 Interest earned on checking account Safety deposit box rent $75 $55 At September 30, deposits in transit were $4,750, and outstanding checks totaled $2,683 Prepare the bank reconciliation at September 30. (List items that increase cash balance first.) MINTON COMPANY Bank Reconciliation September 30 Prepare the adjusting entries at September 30, assuming (1) the NSF check was from a customer on account, and (2) interest had been accrued on the note. no Account Titles and Explanation Debit Credit No. Sept. 30 (To record note receivable.) Sept. 30 (To record interest earned.) Sept. 30 (To record NSF check.) Sept. 30 (To record safety deposit rent.)