Wright Company deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on May 31, 2016, its Cash account shows a $27,500 debit balance. The company’s May 31 bank statement shows $25,800 on deposit in the
bank. Prepare a bank reconciliation for the company using the following information.
a. The May 31 bank statement included a $100 debit memorandum for bank services; the company has not yet recorded the cost of these services.