Given the information below for the Patterson Manufacturing Company's bank accounts in the month of September...

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Given the information below for the Patterson Manufacturing Company's bank accounts in the month of September 2019, produce an Account Analysis Statement (Note: Please calculate Collected Balances required) Item - Services Performed Account Maintenance Debits-paper Debits electronic Credits electronic Addenda Records Processed Controlled Disbursements Items Paid Paid Item Reject Teller Cash Float Paid Item Images Wholesale Lockbox Monthly Maintenance Standard Items Deposit Tickets Data Capture Document Images Wire Transfers Domestic Wires - Out Domestic Wires - In International Wires - Out International Wires - In Info Services - Maintenance Info Services - Data Transfers Number 3 3,589 395 5,829 3,102 8,150 355 1,088 8,099 2 9,875 20 125,847 984 125 12 78 45 1 87,459 Cost or Unit Price $25.00 $0.23 $0.20 $0.15 $0.45 $0.12 $1.00 $0.55 $0.25 $100 $0.50 $1.50 $0.005 $0.65 $15.00 $10.00 $25.00 $15.00 $150.00 $0.002 In addition for the month in question, the company had an Average Ledger Balance of $8,653,976, with Deposit Float of $928,237. You may assume an ECR of 2.5% and Reserve Requirement of 10%. 1. Determine: (1) The Collected Balance, (2) the service charge for each item and the total service charge for the month, (3) the overall required collected balance and the required collected balance for each of the items above. 2. Provide the balance summary : Ledger balance, float, collected balance, reserve requirement, available balance, available required, and the net available balance. 3. Provide the earning credit summary : Available balance for earnings credit, earnings credit allowance, charge for services, net service credit. 4. Is it a surplus earnings credits or deficit balance that must be charged to the account for the month? Given the information below for the Patterson Manufacturing Company's bank accounts in the month of September 2019, produce an Account Analysis Statement (Note: Please calculate Collected Balances required) Item - Services Performed Account Maintenance Debits-paper Debits electronic Credits electronic Addenda Records Processed Controlled Disbursements Items Paid Paid Item Reject Teller Cash Float Paid Item Images Wholesale Lockbox Monthly Maintenance Standard Items Deposit Tickets Data Capture Document Images Wire Transfers Domestic Wires - Out Domestic Wires - In International Wires - Out International Wires - In Info Services - Maintenance Info Services - Data Transfers Number 3 3,589 395 5,829 3,102 8,150 355 1,088 8,099 2 9,875 20 125,847 984 125 12 78 45 1 87,459 Cost or Unit Price $25.00 $0.23 $0.20 $0.15 $0.45 $0.12 $1.00 $0.55 $0.25 $100 $0.50 $1.50 $0.005 $0.65 $15.00 $10.00 $25.00 $15.00 $150.00 $0.002 In addition for the month in question, the company had an Average Ledger Balance of $8,653,976, with Deposit Float of $928,237. You may assume an ECR of 2.5% and Reserve Requirement of 10%. 1. Determine: (1) The Collected Balance, (2) the service charge for each item and the total service charge for the month, (3) the overall required collected balance and the required collected balance for each of the items above. 2. Provide the balance summary : Ledger balance, float, collected balance, reserve requirement, available balance, available required, and the net available balance. 3. Provide the earning credit summary : Available balance for earnings credit, earnings credit allowance, charge for services, net service credit. 4. Is it a surplus earnings credits or deficit balance that must be charged to the account for the month?

Answer rating: 100% (QA)

To complete this exercise we have to follow a few steps Lets start by calculating the service charge for each item and the total service charge for th... View the full answer