Problem 8-3A (Part Level Submission)

On May 31, 2017, Reber Company had a cash balance per books of $7,051.50. The bank statement from New York State Bank on that date showed a balance of $6,674.60. A comparison of the statement with the cash account revealed the following facts.

1.		The statement included a debit memo of $48.00 for the printing of additional company checks.
2.		Cash sales of $634.00 on May 12 were deposited in the bank. The cash receipts journal entry and the deposit slip were incorrectly made for $684.00. The bank credited Reber Company for the correct amount.
3.		Outstanding checks at May 31 totaled $855.25. Deposits in transit were $2,686.15.
4.		On May 18, the company issued check No. 1181 for $695 to Lynda Carsen on account. The check, which cleared the bank in May, was incorrectly journalized and posted by Reber Company for $659.
5.		A $3,270.00 note receivable was collected by the bank for Reber Company on May 31 plus $88.00 interest. The bank charged a collection fee of $28.00. No interest has been accrued on the note.
6.		Included with the cancelled checks was a check issued by Stiner Company to Ted Cress for $1,070.00 that was incorrectly charged to Reber Company by the bank.
7.		On May 31, the bank statement showed an NSF charge of $672.00 for a check issued by Sue Allison, a customer, to Reber Company on account.

(a) Prepare the bank reconciliation at May 31, 2017. (Round answers to 2 decimal places, e.g. 52.75. List items that increase cash balance first. Reconcile cash balance per bank first.)

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