Exercise 7-25 Logan Bruno Company has just received the August 31, 2014, bank statement, which is summarized below.

County National Bank	Disbursements	Receipts	Balance
Balance, August 1	$10,362
Deposits during August	$35,613	45,975
Note collected for depositor, including $44 interest	1,150	47,125
Checks cleared during August	$38,157	8,968
Bank service charges	22	8,946
Balance, August 31	8,946

The general ledger Cash account contained the following entries for the month of August.

Cash
Balance, August 1	11,115	Disbursements in August	39,157
Receipts during August	38,710

Deposits in transit at August 31 are $4,203, and checks outstanding at August 31 total $1,714. Cash on hand at August 31 is $343. The bookkeeper improperly entered one check in the books at $146.50which was written for $164.50for supplies (expense); it cleared the bank during the month of August.

Prepare a bank reconciliation dated August 31, 2014, proceeding to a correct balance.

Logan Bruno Company Bank Reconciliation, August 31, 2014 County National Bank
Bank service chargesUnderstated check for suppliesOutstanding checksNote and interest collectedBalance per books, August 31, 2014Balance per bank statement, August 31, 2014Cash on handDeposits in transitCorrect cash balance	$
AddLess:
Balance per books, August 31, 2014Balance per bank statement, August 31, 2014Understated check for suppliesCorrect cash balanceCash on handOutstanding checksDeposits in transitNote and interest collectedBank service charges	$
Understated check for suppliesBalance per bank statement, August 31, 2014Correct cash balanceBalance per books, August 31, 2014Cash on handNote and interest collectedBank service chargesDeposits in transitOutstanding checks
LessAdd:	Balance per books, August 31, 2014Cash on handBank service chargesNote and interest collectedDeposits in transitOutstanding checksUnderstated check for suppliesBalance per bank statement, August 31, 2014Correct cash balance
Balance per bank statement, August 31, 2014Understated check for suppliesCash on handCorrect cash balanceNote and interest collectedBalance per books, August 31, 2014Bank service chargesDeposits in transitOutstanding checks	$
Balance per books, August 31, 2014Cash on handOutstanding checksUnderstated check for suppliesBalance per bank statement, August 31, 2014Deposits in transitCorrect cash balanceBank service chargesNote and interest collected	$
AddLess:	Correct cash balanceNote and interest collectedOutstanding checksBalance per books, August 31, 2014Understated check for suppliesBalance per bank statement, August 31, 2014Cash on handDeposits in transitBank service charges
LessAdd:
Correct cash balanceBalance per books, August 31, 2014Note and interest collectedBank service chargesUnderstated check for suppliesBalance per bank statement, August 31, 2014Cash on handDeposits in transitOutstanding checks	$
Deposits in transitNote and interest collectedBank service chargesUnderstated check for suppliesBalance per bank statement, August 31, 2014Outstanding checksCash on handCorrect cash balanceBalance per books, August 31, 2014
Bank service chargesUnderstated check for suppliesBalance per bank statement, August 31, 2014Outstanding checksCash on handNote and interest collectedDeposits in transitCorrect cash balanceBalance per books, August 31, 2014	$

SHOW LIST OF ACCOUNTS

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Prepare any entries necessary to make the books correct and complete.(If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
August 31, 2014
(To record collection of note and interest)
August 31, 2014
(To record August bank charges)
August 31, 2014
(To record error in recording check for supplies)

SHOW LIST OF ACCOUNTS

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What amount of cash should be reported in the August 31 balance sheet?

Cash to be reported in the August 31 balance sheet

$