Question

a.A check for $100 was returned as NSF by the bank. The bank charged a returned check $25 processing fee. b.The March 31st cash receipts of $3,428 were placed in the night drop box after the bank closed. c.A $15 debit memo for checks printed by the bank was included with the canceled checks. d.Outstanding checks amounted to $2,565. e.A customer's note for $1,500 was collected by the bank and a collection fee of $25 was deducted. f.A check for $325 which was drawn on another company was included with the canceled checks.

Answer 1

The question is missing the first part and I couldn't find any other question that has the same numbers.

when you are reconcile the bank account:

add deposits in transit $3,428

add the check from another company that was incorrectly canceled $325

subtract outstanding checks ($2,565)

reconciled bank account = X + $1,188

to reconcile the cash account:

add collection of note receivable $1,500

subtract collection fee ($25)

subtract the NSF check ($100)

subtract bank processing fees ($25)

subtract cost of printing checks ($15)

reconciled cash account = Y + $1,335