51) The June 30 bank statement of Control Inc. has arrived in the mail. The bank reconciliation was prepared and the adjusted bank balance is $4,065. The following information was used to prepare the bank reconciliation:
•The cash ledger account has a balance of $5,500 on June 30.
•The bank statement indicates $20 of interest earned on the account.
•The company pays rent ($1,000) and utilities ($750) by EFT.
•The following checks did not clear the bank statement: CK 101 $150, CK 102 $75, CK 103 $210
•The bank statement indicates a deposit of $1,250 for a note collected by the bank on behalf of the company.
•The bank statement indicates a $15 service charge.
•On June 30, the company deposited $800 at the end of the day. This will appear on the July bank statement.
•The bank statement includes a $175 check payment that the company did not write. The bank deducted $175 from the account for another company's check.
•The bank statement includes an NSF check for $400. It was received from a customer as a payment on account.
Journalize the June 30 transactions needed to update Control Inc.'s cash ledger account. Prepare a T account for cash, insert the unadjusted balance at 6/30, and post the entries. After posting, does the T account agree with the bank reconciliation? Note — It is NOT necessary to prepare the bank reconciliation.
