Debit Credit Balance 7,200 18,450 8,515 Date Item Jrnl. Ref July 1 Balance 31 CR 6 31 CP 11 Cash Receipts (CR) Date Cash Debit July 2 $ 4,029 8 401 11,250 9,935 Cash Payments (CP) Cheque No. Cash Credit 3113 $ 1,013 3114 968 3115 1,320 3116 530 3117 969 3118 979 3119 596 10 768 16 22 1,926 1,609 1,708 809 29 30 $ 11,250 Total 1,016 3120 3121 60 2,484 3122 $ Total 9,935 $ 7,200 1 4 Bank Statement for July 2017 Beginning balance Deposits and other additions: July 775 EFT 4,029 9 401 12 768 17 1,926 22 1,275 BC 23 1,609 Cheques and other deductions: July 7 1,013 13 1,230 14 943 US 15 968 10,783 18 530 21 269 EFT 26 969 14 943 US 15 968 18 530 21 269 EFT 26 969 30 979 30 (6,931) Ending balance 11,052 Explanation: EFT-electronic funds transfer, BC-bank collection, US-unauthorized signature, SC-service charge 30 SC Additional data for the bank reconciliation include the following: a. The EFT deposit was a receipt of a monthly car lease. The EFT debit was a monthly insurance payment. b. The bank collection was of a note receivable. C. The unauthorized signature cheque was received from a customer. d. The correct amount of cheque number 3115, a payment on account, is $1,230. (Dawn's accountant mistakenly recorded the cheque for $1,320.) The cash data of Dawn Automotive for July 2017 follow (Click the icon to view the chequebook.) Dawn received the following bank statement on July 31, 2017 (Click the icon to view the bank statement.) Click the icon to view the additional data for the bank reconciliation.) Requirement Prepare the Dawn Automotive bank reconciliation at July 31, 2017 Prepare the Dawn Automotive bank reconciliation at July 31, 2017. (Leave unused cells blank.) Dawn Automotive Bank Reconciliation July 31, 2017 BANK 11052 809 Add Less: Deposits in transit Outstanding cheques Cheque No. 3120 1016 60 3121 3122 2484 Adjusted bank balance, July 31, 2017 8301 BOOKS: Balance, July 31, 2017 Add: EFT collection of lease Bank collection of note receivable Less: Service charge EFT payment of insurance Unauthorized signature cheque Correction of book error Adjusted book balance, July 31, 2017
