Question $3$: Bank Reconciliation

$[36$ marks$]$

The Tarragon Trading Company's bank statement for the month of November showed a balance per bank of $$7,000.$ The company's Cash account in the general ledger had a balance of $$5,659$ at $30$ November. Other information is as follows:

$(1)$ Cash receipts for $30$ November recorded on the company's books were $$5,200$ but this amount does not appear on the bank statement.

$(2)$ The bank statement shows a debit memorandum for $$40$ for bank charges.

$(3)$ EFT No$,119$ payable to Bums Company was recorded in the cash payments journal and cleared the bank for $$248.$ A review of the accounts payable subsidiary ledger shows a $$36$ credit balance in the account of Bums Company and that the payment to them should have been for $$284.$

$(4)$ The total amount of EFTs still outstanding at $30$ November amounted to $$5,800.$

$(5)$ EFT No$,138$ was correctly written and paid by the bank for $$409.$ The cash payment journal reflects an entry for EFT No$.138$ as a debit to Accounts Payable and a credit to Cash in Bank for $$490.$

$(6)$ The bank returned a dishonoured note receivable from a customer for $$560.$

$(7)$ The bank included a credit memorandum for $$1,260,$ which represents collection of a customer's note by the bapk for the company, principal amount of the note was $$1,200$ and interest was $$60.$ Interesthas not been accrued.

Required

$($i$)$ Prepare a bank reconciliation for the Tarragon Trading Company at $30$ November.

Total Marks for Assignment Three $=100$ Marks

$5$