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This information relates to the Cash account in the ledger of Pharoah Company.
This information relates to the Cash account in the ledger of Pharoah Company.
Balance September 1—$19,040; Cash deposited—$64,000
Balance September 30—$20,240; Checks written—$62,800
The September bank statement shows a balance of $19,140 at September 30 and the following memoranda.
Credits
Debits
Collection of electronic funds transfer$2,370NSF check: H. Kane$1,100Interest earned on checking account65Safety deposit box rent80
At September 30, deposits in transit were $5,298 and outstanding checks totaled $2,943.
Prepare the bank reconciliation at September 30, 2017. (List items that increase balance as per bank & books first.)
