Exercise 7-8 The following information is for Oriole Ltd. in July: 1. Cash balance per bank, July 31, $10,630. 2. Cash balance per books, July 31, $8,786. 3. Bank service charge, $40. 4. Deposits in transit, $1,992. 5. Electronic receipts from customers in payment of their accounts, $1,024, not previously recorded by the company. 6. Outstanding cheques, $2,402. 7. Cheque #373 was correctly written in the amount of $490 but was incorrectly recorded by the company's bookkeeper as $940. The cheque was written for the purchase of office supplies. Prepare the bank reconciliation at July 31. (List items that increase balance as per bank & books first.) ORIOLE LTD. Bank Reconciliation July 31 $ Prepare any journal entries required from the reconciliation. (Note: The correction of any errors pertaining to recording cheques should be made to Supplies account.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit July 31 (To correct error in cheque 373) 31 (To record EFT deposits) 31 (To record bank service charge) List of Accounts Exercise 7-8 Accounts Payable Accounts Receivable Accumulated Depreciation - Equipment Bank Charges Expense Bank Loan Payable Cash Common Shares Cost of Goods Sold Depreciation Expense Equipment Income Tax Expense Income Tax Payable Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory No Entry Notes Receivable Retained Earnings Salaries Expense Salaries Payable Sales Supplies Supplies Expense Unearned Revenue Utilities Expense