Wright Company deposits all cash receipts on the day when they arereceived and it makes all cash payments by check. At the close ofbusiness on May 31, 2013, its Cash account shows a $27,500 debitbalance. The company May’s bank statement shows $25,800 ondeposit in the bank.a)The May 31 bank statement included a $100 debit memorandum forbank services; the company has not yet recorded the cost of theseservices.b)Outstanding checks as of May 31 total $5,600.c)May 31 cash receipts of $6,200 were placed in the bank’s nightdepository after banking hours and were not recorded on the May 31bank statement.d) In reviewing the bank statement, a $400 check written by SmithCompany was mistakenly drawn against Wright’s account.e)A debit Memorandum for $600 refers to a $600 NSF check from acustomer; the company has not yet recorded this NSF check.Prepare a bank reconciliation for the company using the aboveinformation.
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