On June 30, Marigold Corporation showed a cash balance on their books of $9,426. The bank statement from the company's bank showed a month end balance of $12,254. On reviewing the bank statement, the following items were discovered:
1. A deposit made on June 29 for $1,400 did not appear on the bank statement.
2. Cheques written in the month of June but that did not appear on the bank statement were as follows:
Cheque # 159 $1,130
Cheque # 160 23
Cheque # 168 178
Cheque # 170 260
Cheque # 171 970
3. The bank credited Marigold's account for $280 on June 19. This deposit did not belong to Marigold, but belonged to another company and was posted in error.
4. The bank statement showed receipt of a wire transfer of $1,840 in payment of a note receivable, as well as $100 interest.
5. According to the bank statement, $23 was deducted from Marigold's account for service charges.
6. The bank cleared cheque # 152 for $810; however, the cheque was recorded in Marigold's records at $790. Research showed the bank was correct, and the cheque was recorded incorrectly in Marigold's books. The cheque was written in payment of advertising.
7. A cheque for $510 from one of Marigold's customers was rejected by the bank due to insufficient funds (NSF).