The May cash records of Nielson, Inc. follow:

Nielson€™s Cash account shows the balance of $6,171 on May 31. On May 31, Nielson, Inc. received the following bank statement:

Additional data for the bank reconciliation:
a. The EFT deposit was a receipt of rent revenue. The EFT debit was payment of insurance expense.
b. The NSF cheque was received from a customer.
c. The $1,000 bank collection was for a note receivable.
d. The correct amount of cheque 1419 is $216. Nielson, Inc. mistakenly recorded the cheque for $126.
Requirement
Prepare Nielson€™s bank reconciliation at May 31.

Transcribed Image Text:

Cash Receipts (CR) Cash Payments (CP) Date Cash Debit Cheque No Cash Credit May 4 $2,716 544 896 367 2,037 1416 1417 1418 1419 1420 1421 1422 775 14 17 31 126 970 200 2,267 Bank Statement for Ma Beginning Balance Deposits and other additions 4,045 May 1 S 625 EFT 2,716 10 15 18 31 544 896 367 1,000 BC 6,148 Cheques and other deductions May 8 441 NSF 15 (Cheque #1416) 19 22 (Cheque #1417) 29 (Cheque #1418) 31 (Cheque #1419) 31 340 EFT 775 216 25 SC 1,893) S 8,300 Ending Balance