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(Solved): Moby Corporations bank account showed a ledger balance of $4,826 on June 30, 2023. The bank state ...



Moby Corporation’s bank account showed a ledger balance of $4,826 on June 30, 2023. The bank statement as of that date showed a balance of $5,007. Upon comparing the statement with the cash records, the following facts were determined. 1. There was a bank service charge for June of $25. 2. A bank memo stated that Bill Bob’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 Moby’s books when Bill Bob’s note was sent to the bank for collection.) 3. Receipts for June 30 for $3,390 had not deposited until July 2. 4. Checks outstanding on June 30 totaled $2,136. 5. The bank had charged the Moby Corporation’s account for a customer’s uncollectible check amounting to $253 on June 29. 6. A customer’s check for $90 (as payment on the customer’s Accounts Receivable) had been entered as $60 in the cash receipts journal by Moby Corporation on June 15. 7. Check no. 742, for $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. Both checks had been issued to pay for purchases and were payments on Moby Corporation’s Accounts Payable. Instructions: 1.1 Prepare a bank reconciliation, in good form (in excel), dated June 30, 2019, proceeding to a correct cash balance per books. 1.2 Prepare any journal entries necessary to make the books reconciled to bank balance. Use reasonable assumptions if any information is missing.



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