Question
Company deposits all receipts and makes all payments by check. The following information is available from the cash records. June 30 Bank Reconciliation Balance per
Company deposits all receipts and makes all payments by check. The following information is available from the cash records.
June 30 Bank Reconciliation
Balance per bank
$14,756
Add: Deposits in transit
3,246
Deduct: Outstanding checks
(4,216
)
Balance per books
$13,786
Month of July Results
Per Bank
Per Books
Balance July 31 $18,234 $19,498
July deposits 9,486 12,247
July checks 8,432 6,535
July note collected (not included in July deposits) 3,162
July bank service charge 32
July NSF check from a customer, returned by the bank (recorded by bank as a charge) 706
Prepare the general journal entry to correct the Cash account.
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