PROBLEM #1:The bank statement for Cates Company indicates a balance of $1,730 on June 30. The cash balance per books had a balance of $799 on this date. The following information pertains to the bank transactions for the company.

1)Deposit of $260, representing cash receipts of June 30, did not appear on the bank statement.

2)Outstanding checks totaled $340.

3)Bank service charges for June amounted to $25

4)The bank collected a note receivable for the company for $900 plus $56 interest revenue.

5)An NSF check for $80 from a customer was returned with the statement.

Instructions

A).Prepare a bank reconciliation for June 30.

B) Prepare any adjusting entries necessary as a result of the bank reconciliation

PROBLEM #2: Prepare journal entries to record the following transactions entered into by the Merando Company:

2011:

June 1: Received a $9,000, 6%, 1-year note from Dan Gore as full payment on his account

Nov 1:Sold merchandise on account to Barlow, Inc., for $12,000, terms 2

Nov 5:Barlow, Inc., returned merchandise worth $1,000.

Nov 9:Received payment in full from Barlow, Inc.

Dec 31: Accrued interest on Gore's note.

2012:

June 1: Dan Gore honored his promissory note by sending the face amount plus interest.

please show step by step thank you