Question: Using the code letters below, indicate how each of the items listed would be handled in preparing a monthly bank reconciliation. Enter the appropriate code

Using the code letters below, indicate how each of the items listed would be handled in preparing a monthly bank reconciliation. Enter the appropriate code letter in the space to the left of each item.

Code

A Deduct from cash balance per bank

B Add to cash balance per bank

C Add to cash balance per books

D Does not affect the bank reconciliation

E Deduct from cash balance per books

Items:

1.___________ Bank returns customer deposited check marked NSF

2.___________ Bank incorrectly charges a fee for checks ordered by another company

3. ___________ Deposit mailed on the last day of the month not received by the bank until the following day

4.___________ $340 check, correctly written and paid, recorded by company for $430

5. ___________ Bank collects notes receivable and interest for depositor

6.___________ $1,600 deposit incorrectly recorded by company for $6,300

7.___________ Three checks written have not yet cleared the bank

8. ___________ Bank debit memorandum for an account maintenance fee

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