Wright Company's cash account shows a $30,700 debit balance and its bank statement shows $29,000 on deposit at the close of business on May 31. a. The May 31 bank statement lists $260 in bank service charges; the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $7,200. c. May 31 cash receipts of $7,800 were placed in the bank's night depository after banking hours and were not recorded on the May 31 bank statement. d. In reviewing the bank statement, a $560 check written by Smith Company was mistakenly drawn against Wright's account. e. The bank statement shows a $280 NSF check from a customer; the company has not yet recorded this NSF check. Prepare its bank reconciliation using the above information.

The following information is available for the Savvy Company for the month of June. a. On June 30, after all transactions have been recorded, the balance in the company's Cash account has a balance of $17,202. b. The company's bank statement shows a balance on June 30 of $19,279. c. Outstanding checks at June 30 total $2,984. d. The bank collected $770 on a note receivable that is not yet recorded by Savvy Company. e. A $67 NSF check from a customer, J. Maroon is shown on the bank statement but not yet recorded by the company. f. A deposit placed in the bank's night depository on June 30 totaling $1,675 did not appear on the bank statement. g. Check #3445 for the payment of an account payable was correctly written for $2,450, but was recorded in the accounting records as $2,540. h. Included with the bank statement was a bank service charge in the amount of $25. It has not been recorded on the company's books. 1. Prepare the June bank reconciliation for the Savvy Company. 2. Prepare the…

Wright Company's cash account shows a $30,500 debit balance and its bank statement shows $28,800 on deposit at the close of business on May 31. The May 31 bank statement lists $250 in bank service charges; the company has not yet recorded the cost of these services. Outstanding checks as of May 31 total $7,100. May 31 cash receipts of $7,700 were placed in the bank’s night depository after banking hours and were not recorded on the May 31 bank statement. In reviewing the bank statement, a $550 check written by Smith Company was mistakenly drawn against Wright’s account. The bank statement shows a $300 NSF check from a customer; the company has not yet recorded this NSF check. Prepare its bank reconciliation using the above information.

Organic Food Company's Cash account shows a $7,400 debit balance and its bank statement shows $6,490 on deposit at the close of business on August 31. August 31 cash receipts of $3,140 were placed in the bank’s night depository after banking hours and were not recorded on the August 31 bank statement. The bank statement shows a $310 NSF check from a customer; the company has not yet recorded this NSF check. Outstanding checks as of August 31 total $3,020. In reviewing the bank statement, an $270 check written by Organic Fruits was mistakenly drawn against Organic Food’s account. The August 31 bank statement lists $210 in bank service charges; the company has not yet recorded the cost of these services.   Prepare any necessary journal entries that Organic Food Company must record as a result of preparing the bank reconciliation.