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Use the following bank statement and T-account to make a journal entries needed as a result of the May 31 bank reconciliation. (If no entry is required for a transaction/event, select “No Journal Entry Required” in the first account field.)
BANK STATEMENT
DateChecksDepositsOtherBalance May 1 $320 4 #2 $40 $80 360 12 #4 130 NSF Check $80 150 28 #5 50 100 30 #6 45 320 375 May 31 #8 85 Service charge 35 255
Cash (A) May 1320 May 380 40May 3 #2 100 May 4 #3 130May 8 #4 50May 11 #5 45May 21 #6 May 29320 55May 29 #7 May 30210 85May 30 #8
a) Record bank service charges.
b) Record customer check returned due to insufficient funds.
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