Bank Reconciliation On July 31, Sullivan Company's Cash in Bank account had a balance of $8,112.62. On that date, the bank statement indicated a balance of $9,098.55. A comparison of returned checks and bank advices revealed the following: Deposits in transit July 31 amounted to $3,358.19. Outstanding checks July 31 totaled $1,251.12. The bank erroneously charged a $215.00 check of Solomon Company against the Sullivan bank account. A $15 bank service charge has not yet been recorded by Sullivan Company. Sullivan neglected to record $3,000.00 borrowed from the bank on a ten percent six-month note. The bank statement shows the $3,000.00 as a deposit. Included with the returned checks is a memo indicating that J. Martin's check for $640.00 had been returned NSF. Martin, a customer, had sent the check to pay an account of $660.00 less a $20 discount. Sullivan Company recorded a $107.00 payment for repairs as $1,070.00

bank reconciliation for Sullivan Company at July 31.

Ending balance from bank statement $ 9098.55 Balance from general ledger $ 8122.62 Add: Deposits not credited by bank 3 335319 Add: Proceeds of note c 3000 Add: Bank error- Solomon Company check Check for $ charged against Sullivan Compa ny's account 215 recorded as s 0 1267274 Less: Service charge c 15 Less: Outstanding checks 12251.12 Less: NSF Check 0 Reconciled cash balance : Reconciled cash balance 6 $ \"42052