Problem 1:

The following information was obtained regarding the April 30, 2020 bank statement and Cash account regarding Beavis Company:

1) Beaviss Cash T-account on April 30 showed a balance of $3,510 while the bank statement on that date showed the balance to be $4,740.

2) A check Beavis wrote to a creditor for $94 was incorrectly recorded in the cash payments journal as $49.

3) Outstanding checks totaled $560.

4) The April bank charges were $15.

5) A $270 deposit made by Beavis on April 30^th was made too late to appear on the April bank statement.

6) The bank notified Beavis that a check for $100 received from a customer, Butthead Company, bounced.

7) The bank collected a note for Beavis from a customer, $1,100. The face value of the note was $1,000.

REQUIRED:

1) Prepare the April 30^th bank reconciliation.

2) Prepare the necessary correcting journal entries for Beavis.