10:33 WnLearning Objective 61. Adjusted Balance $17,580The May cash records of Donald Insurance follow:DateCash ReceiptsMay 49141731Cash Debit$ 4,230со5205301,9501,840Check No.1416141714181419142014211422Cash Payments424/ 1480QAA▶ICOCash CreditDonald's Cash account shows a balance of $17,750 at May 31. On May 31,Donald Insurance received the following bank statement:5G`ll 72%$8901206301,0901,420900670||| 0 <: 10:34 W 27|||□May 19May 22 (check no. 1417)May29 (check no. 1418)May31 (check no. 1419)May 31Ending BalanceEFTSC7.2-45 Full Alternative TextAdditional data for the bank reconciliation follow:со3751206301,90035Explanations: BC-bank collection; EFT-electronic funds transfer;NSF-nonsufficient funds checks; SC-service chargeQAA(5,050)$ 18,730425 / 1480a. The EFT credit was a receipt of rent. The EFT debit was an insurancepayment.b. The NSF check was received from a customer.c. The $1,700 bank collection was for a note receivable.d. The correct amount of check 1419, for rent expense, is $1,900. Donald'scontroller mistakenly recorded the check for $1,090.Requirements1. Prepare the bank reconciliation of Donald Insurance at May 31, 2018.2. Journalize any required entries from the bank reconciliation.5G all 72%▶ICO ||| 0 <:

An accounting document known as a bank reconciliation statement compares the cash balance shown in a…

The May cash records of Donald Insurance follow: Date Cash Receipts May 4 9 14 17 31 Cash Debit $ 4,230 520 530 1,950 1,840 Check No. 1416 1417 1418 1419 1420 1421 Cash Payments 1422 Cash Credit $890 120 630 1,090 Donald's Cash account shows a balance of $17,750 at May 31. On May 31, Donald Insurance received the following bank statement: 1,420 900 670

The May cash records of Donald Insurance follow: Date Cash Receipts May 4 9 14 17 31 Cash Debit $ 4,230 520 530 1,950 1,840 Check No. 1416 1417 1418 1419 1420 1421 Cash Payments 1422 Cash Credit $890 120 630 1,090 Donald's Cash account shows a balance of $17,750 at May 31. On May 31, Donald Insurance received the following bank statement: 1,420 900 670

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 1.6C

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