Essay
Prepare any journal entries based on the following data regarding the bank reconciliation prepared by Corruption Company on July 31,2017.
a.A customer's cheque for $260 was returned with the bank statement and stamped NSF.
b.Outstanding cheques amount to $650.
c.Service charges for July per bank statement are $25.
d.Cheque #925 for $3,250 for office equipment was erroneously recorded by the bookkeeper as $2,350.
e.The bank erroneously credited Corruption Company's account for a $575 deposit made by Bribe and Bilk Inc.
f.A deposit ticket correctly prepared for $695 appeared on the bank statement as a deposit for $965.
g.Cheque #930 for $900 for rent expense was erroneously recorded by the bookkeeper as $90.
Correct Answer:

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