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(b) Prepare any journal entries required from the reconciliation. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount
(b) Prepare any journal entries required from the reconciliation. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit July 31 (To correct error in cheque 373) 31 (To record EFT deposits) 31 (To record bank service charge) 3. The following information is for Sheridan Ltd. in July: 1 Cash balance per bank, July 31, $10,810. 2. Cash balance per books, July 31, $8,780. Bank service charge, $50. Deposits in transit $2,017. Electronic receipts from customers in payment of their accounts, $1,320, not previously recorded by the company. 6. Outstanding cheques, $2,417. Cheque #373 was correctly written in the amount of $590 but was incorrectly recorded by the company's bookkeeper as $950. The cheque was written to buy office supplies. 4. 5. 7. Prepare the bank reconciliation at July 31. (List items that increase balance as per bank & books first. SHERIDAN LTD. Bank Reconciliation July 31 $ 10810 Cash balance per bank statement 2017 Add : Deposits in transit 12827 2417 i Less Outstanding cheques Reconciled cash balance per bank $ 10410 Cash balance per books > $ $ 8780 Add EFT deposits
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