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Bank reconciliation and entriesThe cash account for Stone Systems at July 3 1 , 2 0 Y 5 , indicated a balance of $ 1
Bank reconciliation and entriesThe cash account for Stone Systems at July Y indicated a balance of $ The bank statement indicated a balance of $ on July Y Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items:Checks outstanding totaled $A deposit of $ representing receipts of July had been made too late to appear on the bank statement.The bank had collected $ on a note left for collection. The face of the note was $A check for $ returned with the statement had been incorrectly recorded by Stone Systems as $ The check was for the payment of an obligation to Holland Co for the purchase of office supplies on account.A check drawn for $ had been incorrectly charged by the bank as $Bank service charges for July amounted to $Required:Question Content Area Prepare a bank reconciliation.Stone SystemsBank ReconciliationJuly YLine Item DescriptionAmountAmountCash balance according to bank statementblank$Cash balance according to bank statementblank Select $ Select Select blankTotal deductionsblankTotal deductionsAdjusted balanceblank$Adjusted balanceCash balance according to company's recordsblank$Cash balance according to company's recordsAdjustments:blankblank$ Select Select blankTotal additionsblankTotal additionsblank Select Adjusted balanceblank$Adjusted balanceQuestion Content Area Journalize the necessary entries a that increase cash and b that decrease cash. The accounts have not been closed. If an amount box does not require an entry, leave it blank.DateAccountDebitCreditY July July Question Content Area If a balance sheet were prepared for Stone Systems on July Y what amount should be reported as cash?fill in the blank of $
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