Exercise 7-8 The following information pertains to Joyce Company 1. Cash balance per bank, July 31, $9,173. 2. July bank service charge not recorded by the depositor $61 3. Cash balance per books, July 31, $9,209. 4. Deposits in transit, July 31, $4,545 5. Note for $3,845 collected for Joyce Company in July by the bank, plus interest $59 less fee $43. The collection has not been recorded by Joyce Company, and no interest has been accrued. 6. Outstanding checks, July 31, $709. Prepare a bank reconciliation at July 31, 2014. JOYCE COMPANY Bank Reconciliation July 31, 2014 Cash balance per bank statement Add: Deposits in transit 9173 4545 709 Less: Outstanding checks Adjusted cash balance per bank Cash balance per books Add: Collection of note receivable 13009 9209 3802