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P7-9B. Bank Reconciliation The Chicago Skate Company's bank statement for the month of June indicated a balance of $4,320. The company's cash account in the general ledger showed a balance of $3,377 on June 30. Other relevant information includes the following: > 1. Deposits in transit on June 30 total $2,550. 2. The bank statement shows a debit memorandum for a $10 check printing charge. 3. Check No. 160 payable to Simon Company was recorded in the accounting records for $124 and cleared the bank for this same amount. A review of the records indicated that the Simon account now has a $28 credit balance and the check to them should have been $142. 4. Outstanding checks as of June 30 totaled $3,175. 5. Check No. 176 was correctly written and paid by the bank for $345. The check was recorded in the accounting records as a debit to accounts payable and a credit to cash for $354. 6. The bank returned an NSF check in the amount of $311. 7. The bank included a credit memorandum for $630 representing a collection of a customer's note. The principal portion was $610 and the interest portion was $20. The interest had not been accrued. Required a. Prepare the June bank reconciliation for the Chicago Skate Company. b. Prepare any necessary adjusting entries.

M.9.9. Bank Reconciliation The Chicago Skate Company's bank statement for the month of June indicated a balance of $4,320. The company's cash account in the general ledger showed a balance of $3,377 on June 30 . Other relevant information includes the following: 1. Deposits in transit on June 30 total $2,550. 2. The bank statement shows a debit memorandum for a $10 check printing charge. 3. Check No. 160 payable to Simon Company was recorded in the accounting records for $124 and cleared the bank for this same amount. A review of the records indicated that the Simon account now has a $28 credit balance and the check to them should have been $142. 4. Outstanding checks as of June 30 totaled $3,175. 5. Check No. 176 was correctly written and paid by the bank for $345. The check was recorded in the accounting records as a debit to accounts payable and a credit to cash for $354. 6. The bank returned an NSF check in the amount of $311. 7. The bank included a credit memorandum for $630 representing a collection of a customer's note. The principal portion was $610 and the interest portion was $20. The interest had not been accrued. Required a. Prepare the June bank reconciliation for the Chicago Skate Company. b. Prepare any necessary adjusting entries

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