Western Flyers received its bank statement for the month of July with an ending

Western Flyers received its bank statement for the month of July with an ending balance of
$11065.00. Western Flyers determined that check #598 for $125.00 and check #601 for $375.00 were
both outstanding. Also a $7500.00 deposit for July 30th was in transit as of the end of the
month. Big Bucks Bank also collected a $5000.00 notes receivable on July 1st that was issued
January 1st at 12% annual interest. No interest revenue has been accrued on this note and Big Bucks
Bank charged a $15.00 fee for the collection service.The company?s morning reports resulted in a
bank service charge of $20.00 and a customer check for $75.00 was returned with the statement
marked ?NSF?. The ending balance of the Western Flyers cash account is $12875.00.
Complete a bank/account reconciliation and write any necessary journal entries for the
reconciliation.