This information relates to the Cash account in the ledger of Ivanhoe Company Ba

Question

This information relates to the Cash account in the ledger of Ivanhoe Company Balance September 1-$19,140; Cash deposited-$64,000 Balance September 30-$20,340; Checks written-$62,800 September bank statement shows a balance of $19,240 at September 30 and the following memoranda. Credits Debits $900 75 Collection of electronic funds transfer 2,170 NSF check: H. Kane Interest earned on checking account At September 30, deposits in transit were $5,093 and outstanding checks totaled $2,738 60 Safety deposit box rent Prepare the bank reconciliation at September 30, 2017. (List items that increase balance as per bank & books f IVANHOE COMPANY Bank liation

Explanation / Answer

IVANHOE Company

Bank Reconciliation

September 30

Journal Entries Date Account titles and explanation Debit Credit SEP 30 Cash 2170       Notes receivable 2170 ( To record electronic funds transfer received by bank ) 30 Cash 60       Interest revenue 60 (To record interest earned on checking account ) 30 Accounts receivable-H.Kane 900       Cash 900 (To record NSF check ) 30 Miscellaneous expenses 75       Cash 75 ( To record charges for safety deposit box rent )

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