The Following Information Is Needed to Reconcile the Cash Balance

Essay

The following information is needed to reconcile the cash balance for Woods Paper Products.
• A deposit of $5,794.62 is in transit.
• Outstanding cheques total $1,533.25.
• The book balance is $5,695.62.
• The bookkeeper recorded a $1,524.00 cheque as $15,240 in payment of the current month's rent.
• The bank balance at February 28, 2008 was $16,500.25.
• A deposit of $300 was credited by the bank for $3,000.
• A customer's cheque for $1,280 was returned for non-sufficient funds.
• The bank service charge is $70.
Based on this information, complete a bank reconciliation, in the format below, for Woods Paper Products as of February 28, 2017. $\begin{array}{l|lcc} \text { BANK\quad\quad\quad\quad\quad\quad\quad\quad} &\quad\quad\quad\quad\quad\quad\quad \text { BOОК} \\ \hline \text { } &\\ \text { } &\\ \text { } &\\ \text { } &\\ \text { } &\\ \text { } &\\\end{array}$