Question: Question 5 20 points Save Answer The bank statement for Royal Corporation indicates a balance of $2,080 on December 31. The cash balance per books

Question 5 20 points Save Answer The bank statement for Royal

Question 5 20 points Save Answer The bank statement for Royal Corporation indicates a balance of $2,080 on December 31. The cash balance per books had a balance of $775 on this date. The following information pertains to the bank transactions for the company. 1. Deposit of $460, representing cash receipts of December 31, did not appear on the bank statement. 2. Outstanding checks totaled $840 3. Bank service charges for December amounted to $50 4. The bank collected a note receivable for the company for $1,000 plus $75 interest revenue 5. A NSF check for $100 from a customer was returned with the statement. Instructions A) Prepare bank reconciliation for December 31 B) Prepare any adjusting entries necessary as a result of the bank reconciliation

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