Prepare the bank reconciliation statement based on the information below:

Statement Bank Balance: $$3,400$

Checkbook Balance: $$3,120$

Outstanding checks: $$1,140$

Deposit in transit: $$1,800$

A $$1,000$ note was collected by the bank $-$ interest $$15$ and service charges $$5$

A $$16$ check received from a client was returned for not sufficient funds

Check Reference #$1001$ in the amount of $$82$ was incorrectly recorded in checks stubs $$28.$

Answer rating: 100% (QA)

To prepare the bank reconciliation statement we need to adjust the checkbook balance to ... View the full answer