Answer Happy

Assignment 4 CLO 5 Dinner Food Store developed the following information in recording its bank statement for the month of May. Balance per books March 31 $ 2,905 Balance per bank statement March 31 $10,900 (1) Checks written in May but still outstanding $9,800. (2) Deposits of May 30 and 31 not yet recorded by bank $5,200. (3) NSF check of customer returned by bank $1,200. (4) Check No. 210 for $594 was correctly issued and paid by bank but incorrectly entered in the company cash payments journal as payment on account for $549. (5) Bank service charge for May was $50. (6) A payment on account was incorrectly entered in the cash payments journal and posted to the account payable subsidiary ledger for $824 when Check No. 318 was correctly prepared for $284. The check cleared the bank in May. (7) The bank collected a note receivable for the company for $4,000 plus $150 interest revenue. Instructions 1. Prepare a bank reconciliation at May 31. marks) 2. Record all the required correcting entries. marks) (10 (5