The cash account of Aguilar Co. showed a ledger balance of $3,969.85 on June 30,2012.The bank statement as of that date showed a balance of $4,150.
Upon comparing the statement with the cash records, the following facts were determined.
(1) There were bank service charges for June of $25.
(2) A bank memo stated that Bao Dai's note for $1,200 and interest of $36 had been collected on June 29, and the bank had made a charge of $5.50 on the collection. (No entry had been made on Aguilar's books for this transaction)
(3) Receipts for June 30 for $3,390 were not deposited until July 2.
(4) Checks outstanding on June 30 totaled $2,136.05.
(5) The bank had charged the Aguilar Co's account for a customer's uncollectible check of $253.20 on June 29.
(6) A customer's check for $90 had been entered as $60 in the cash receipts journal by Aguilar on June 15.
(7) Check no. 742 in the amount of $491 had been entered in the cash journal as $419, and check no. 747 in the amount of $58.20 had been entered as $582.
(a) Prepare a bank reconciliation dated June 30, 2012.
(b) Prepare any entries necessary to make the books correct and complete.