Prepare a Bank Reconciliation JUSTQUESTIONANSWERONLY

On May 31, 2010, Sharp Company had a cash balance in its general ledger of $6,675. The company's bank statement from National Bank showed a May 31 balance of $8,240. The following facts have come to your attention

a:Sharp's May 31 deposit of $1,000 was not included on the bank statement because it was dropped in the night depository after bank hours on May 31

b The banks general service charge for the month was $100

c the bank collected a note receivable of $1,500 for Sharp Company along with an additional $58 for interest. The bank deducted a $30 fee for this service. Sharp Company had not accured any interest on the note.

d. Sharp's bookkeeper erroneously recoreded a payment to Williams Company for $192 as $129. The check cleared the bank for the correct amount of 192

e. Sharp's outstanding checks at May 31  totaled $1,200

Requirements

1. Prepare a bank reconciliation as of May 31

2. Prepare the necessary adjustments to the accounting equation to update the  records of sharp company