Bank Reconciliation YOTDECIDE OBJECTIVE Shortly after July 31, Morse Corporation received a bank statement containing the following information: \(\square\)

July cash transactions and balances on Morse's records are shown in the following Taccount: \(\square\)

\section*{Required:}
1. Prepare a bank reconciliation for July.
2. Prepare the journal entries to be made by Morse Corporation as a result of this reconciliation process.
3. What amount is reported as cash on the statement of financial position at July 31 ?
Problem

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Date 6/30 Beg. balance Cheques Deposits Balance $ 7,958 7/1 $ 1,200 9,158 7/2 $ 620 $ 550 $ 344 12.500 20,144 7/3 35 8,100 12,009 7/5 311 97 4,000 9,100 16,701 7/9 4,500 790 286 11,125 7/12 34 7,100 3,991 7/15 634 1.880 7,000 8.477 7/19 3,780 414 4,283 7/24 1,492 649 2,142 7/29 350 677* 4,620 5,735 7/31 575 18** 5,142