Exercise 8-12

Exercise 8-12 The information below relates to the Cash account in the ledger of Mi Minton Company. Cash deposited-$64,150. Balance September 1-$17,090; Balance September 30-$17,804; Checks written-$63,436. The September bank statement shows a balance of $16,822 on September 30 and the following memoranda. Credits Debits $1,730 NSF check: Richard Nance Collection of $1,690 note plus interest $40 Interest earned on checking account $625 $55 Safety deposit box rent $75 At September 30, deposits in transit were $4,650, and outstanding checks totaled $2,583 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) no interest had been accrued on the note. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit Sept. 30 (To record note receivable.) Sept. 30 (To record interest earned.) Sept. 30 (To record NSF dheck) Sept. 30 (To record safety depost rent.)