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The following information is needed to reconcile the cash balance for Fire Steel Inc.

A deposit of $5,800 is in transit.
Outstanding checks total $1,500.
The book balance is $6,800 at February 28, 2013.
The bookkeeper recorded a $1,740 check as $17,400 in payment of the current month's rent.
The bank balance at February 28, 2013 was $18,000.
A deposit of $400 was credited by the bank for $4,000.
A customer's check for $3,700 was returned for nonsufficient funds.
The bank service charge is $60.

Prepare the bank reconciliation and associated journal entries:

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91591681

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