4. The following information was available for Wild Oat Company for the month ended May...
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4. The following information was available for Wild Oat Company for the month ended May 31, 2020. (a) The book balance at May 31, 2020 was $6,890.22. (b) The bank balance at May 31, 2020 was $8,660.22. (c) Outstanding cheques amounted to S6,310. (d) The May 31st cash receipts of $5,600 were deposited but have not yet appeared on the bank statement (e) A $50 debit memorandum for cheques printed by the bank was included with the cancelled cheques. (1) A customer's note for $1,000 was collected by the bank. In addition interest on the note was $110. 10 Wild Oat Company Bank Reconciliation May 31, 2020 Book balance, May 31 Add: Bank statement balance, May 31 Add: Deposits in transit Note Collection Deduct: Deduct: Bank service harges Outstanding Cheques Adjusted bank balance Adjusted book balance
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