Cantu Office Supply Company received a bank statement

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Cantu Office Supply Company received a bank statement showing a balance of $68,005 as of
March 31, 2013. The firm's records showed a book balance of $69,487 on March 31. The
difference between the two balances was caused by the following items. Prepare a bank
reconciliation statement for the firm as of March 31 and the necessary journal entries from the
statement:1. A debit memorandum for $50, which covers the bank's collection fee for the note.2.
A deposit in transit of $3,700.3. A check for $248 issued by another firm that was mistakenly
charged to Cantu's account.4. A debit memorandum for an NSF check of $6,135 issued by
Wilson Construction Company, a credit customer.5. Outstanding checks: Check 3782 for
$2,200; Check 3840 for $151.6. A credit memorandum for a $6,300 noninterest-bearing note
receivable that the bank collected for the firm.View Solution:
Cantu Office Supply Company received a bank statement showing a

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