The following information was available to reconcile A.C. Forrest Company's book cash balance with its bank statement as of June 30, 2020: The June 30 cash balance according to the accounting records was $14,630. Oustanding checks from May's bank reconciliation: Check # 229 $770 Check # 230 540 Below is a record of the cash receipts and cash payments for June: Cash Deposits Cash Payments Date Amount Check# Amount Jun 2 $3,600 231 $1,500 Jun 5 4,210 232 7,510 Jun 11 5,230 233 1,800 Jun 17 4,500 234 3,230 Jun 23 3,350 235 1,100 Jun 27 5,100 236 1,250 Jun 30 5,390 237 6,270 238 1,650 239 820 240 1,430 241 740 242 1,310 243 2,190 244 5,300 Continued … On June 30, Forrest received the following bank statement: First Bank Bank Statement for June Beginning Balance, June 1, 2020 $19,350 Deposits and other credits: Jun 3 3,600 Jun 6 4,210 Jun 10 ACH 3,000 Jun 12 5,230 Jun 18 4,500 Jun 24 3,350 Jun 25 ACH 750 Jun 28 5,100 Jun 30 Note 2,500 32,240 Checks and other debits: Check# Jun 1 229 770 Jun 2 230 540 Jun 4 231 1,500 Jun 4 232 7,510 Jun 5 233 1,800 Jun 9 234 3,320 Jun 14 235

The following information was available to reconcile A.C. Forrest Company's book cash balance with its bank statement as of June 30, 2020: The June 30 cash balance according to the accounting records was $14,630. Oustanding checks from May's bank reconciliation: Check # 229 $770 Check # 230 540 Below is a record of the cash receipts and cash payments for June: Cash Deposits Cash Payments Date Amount Check# Amount Jun 2 $3,600 231 $1,500 Jun 5 4,210 232 7,510 Jun 11 5,230 233 1,800 Jun 17 4,500 234 3,230 Jun 23 3,350 235 1,100 Jun 27 5,100 236 1,250 Jun 30 5,390 237 6,270 238 1,650 239 820 240 1,430 241 740 242 1,310 243 2,190 244 5,300 Continued … On June 30, Forrest received the following bank statement: First Bank Bank Statement for June Beginning Balance, June 1, 2020 $19,350 Deposits and other credits: Jun 3 3,600 Jun 6 4,210 Jun 10 ACH 3,000 Jun 12 5,230 Jun 18 4,500 Jun 24 3,350 Jun 25 ACH 750 Jun 28 5,100 Jun 30 Note 2,500 32,240 Checks and other debits: Check# Jun 1 229 770 Jun 2 230 540 Jun 4 231 1,500 Jun 4 232 7,510 Jun 5 233 1,800 Jun 9 234 3,320 Jun 14 235

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5E

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The following information was available to reconcile A.C. Forrest Company's book cash
balance with its bank statement as of June 30, 2020:

The June 30 cash balance according to the accounting records was $14,630.

Oustanding checks from May's bank reconciliation:
Check # 229		$770
Check # 230		540

Below is a record of the cash receipts and cash payments for June:

Cash Deposits		Cash Payments
Date	Amount		Check#	Amount
Jun 2	$3,600		231	$1,500
Jun 5	4,210		232	7,510
Jun 11	5,230		233	1,800
Jun 17	4,500		234	3,230
Jun 23	3,350		235	1,100
Jun 27	5,100		236	1,250
Jun 30	5,390		237	6,270
			238	1,650
			239	820
			240	1,430
			241	740
			242	1,310
			243	2,190
			244	5,300


*Continued …*

On June 30, Forrest received the following bank statement:

First Bank
Bank Statement for June

Beginning Balance, June 1, 2020				$19,350

Deposits and other credits:
Jun 3			3,600
Jun 6			4,210
Jun 10		ACH	3,000
Jun 12			5,230
Jun 18			4,500
Jun 24			3,350
Jun 25		ACH	750
Jun 28			5,100
Jun 30		Note	2,500	32,240

Checks and other debits:
	Check#
Jun 1	229		770
Jun 2	230		540
Jun 4	231		1,500
Jun 4	232		7,510
Jun 5	233		1,800
Jun 9	234		3,320
Jun 14	235		1,100
Jun 15	237		6,270
Jun 18	238		1,650
Jun 21	239		820
Jun 22		NSF	800
Jun 29	244		5,300
Jun 30		SC	110	30,180

Ending Balance, June 30, 2020				21,410

Additional information:
a. The ACH received on June 10th was from a customer on account.
b. The ACH received on June 25th was for interest income.
c. The Bank Collection on June 30th was for a Note Receivable.
d. The NSF check related to a customer deposit on June 24th.
g. Check number 234 was incorrectly entered on the books by the
accounts payable clerk.

Required
a. Prepare a bank reconciliation for June 30, 2020 on the form provided.
b. Journalize the necessary entries in the general journal provided.


a.	Note: Show deductions as negative amounts. Deductions will appear as red numbers.
	A.C. Forrest Company
	Bank Reconciliation - June 30, 2020
	Per the Bank		Per the Books
				0
	Reconciling Items:			Reconciling Items:
				0












				0


b.	General Journal
	Date	Account		Debit	Credit
	*Additions to Cash*
					0





	*Deductions to Cash*
					0

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