answer ex 7-25 part B

CALCULATO EVER AER CES Exercise 7-25 (Part Level Submission) Sage Company has just received the August 31, 2020, bank statement, which is summarized below. County National Bank Disbursements Receipts Balance Balance, August 512.10 Deposit during August 341.060 54,040 Note collected for depositor, including +52 interest 1.352 55,192 Checks deared during August $44,550 10,542 Bank service charges 20 10,516 balance August 31 10510 The general ledger Cash account contained the following entries for the month of August. Cash Balance August 13,065 Disbursements in August 45,379 Receipts during August 45,500 Deposits in transitat August 31 are $4,940, and checks otstanding at August 31 total 51,365, Cash on hand at Augusti 140%The bookkeeper improperly entered one check in the books $147 which was written for 5t65 for supplies (pen): It dered the bank during the month of August the books at $147 which was written for $165 for supplies (expense); it cleared the bank during the month of August. Your answer is correct. Prepare a bank reconciliation dated August 31, 2020, proceeding to a correct balance SAGE COMPANY Bank Reconciliation, August 31, 2020 County National Bank Dilanca per bank teman200M 10510 Cash on and 40 4940 5343 15859 ordi det 1365 14494 100 14 4 Cash on hand 403 Deposits in transit 4940 5343 15859 Less Outstanding checks -1365 Correct cash balance 14494 >DE 200 Balance per books. August 31, 2020 13186 Add Note and interest collected 1352 14538 LES Bank service charges 20 Linderstated check for supplies 18 -44 Correct balance 14494 SHOW LIST OF ACCOUNTS SHOW SOLUTION (b) Prepare any entries necessary to make the books correct and complete. (If no entry is required, select "No Entry" for the account titles and enter for the an account tities are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Aug. 31. 2020 (To record collection of note and interest Aug 31, 2020 (To record August bank charges) Aug. 31, 2020 To record error recording check for supplies SHOW LIST OF ACCOUNTS TO TE