The cash data of Navajo Products for September 2017 follow:

On September 30, 2017, Navajo received this bank statement:

Explanation: BC-bank collection, EFT-electronic funds transfer, NSF-nonsufficient funds cheque, SC-service charge.
Additional data for the bank reconciliation:
a. The EFT deposit was for monthly rent revenue. The EFT deduction was for monthly insurance expense.
b. The bank collection was of a note receivable.
c. The NSF cheque was received from a customer.
d. The correct amount of cheque number 1419, a payment on account, is $4,216. (The
Navajo accountant mistakenly recorded the cheque for $4,126.)
Requirements
Prepare the bank reconciliation of Navajo Products at September 30, 2017?

Transcribed Image Text:

Cash Item Jrnl. Ref. Debit Credit Sept. 1 16,184 0 11,353 Cash Receipts (CR) Cash Payments (CP) Cash Debit Cheque No. Cash Credit $ 1,465 Date Sept. 1 $2,716 1,004 5 7 4 Total $11,353 Bank Statement for September 2017 Beginning balance Deposits and other additions $7,078 Sept. 1 $ 625 EFT 2,716 10 15 18. 25 30 1,655 896 367 890 1,400 BC 9,093 Cheques and other deductions $441 NS I ,465 1,004 450 Sept. 8 13 14 15 19 8 340 EFT 775 29 30 30 4,216 25 SC (8,812) 7.359 Ending balance