a Prepare a bank reconciliation schedule at July 31, 1979, for the Home Appliance Company from the following information:

An analysis of the canceled checks returned with the bank statement reveals the following:
Check \#901 for purchase of supplies was drawn for \(\$ 58\) but was recorded as \(\$ 85\).
The manager wrote a check for traveling expenses of \(\$ 95\) while out of town. The check was not recorded. The following checks are outstanding:

b Journalize the adjusting entries required by the information revealed in the bank reconciliation schedule

Transcribed Image Text:

Balance per bank statement, July 29 Balance per ledger, July 31, Deposit of July 30 not recorded by bank Debit memo-service charges Credit memo-collection of note by bank $1,240 714 280 8 300