Exercise 7-8 The following information pertains to Joyce Company.

1.	Cash balance per bank, July 31, $8,466.
2.	July bank service charge not recorded by the depositor $47.
3.	Cash balance per books, July 31, $8,502.
4.	Deposits in transit, July 31, $3,838.
5.	Note for $3,138 collected for Joyce Company in July by the bank, plus interest $45 less fee $29. The collection has not been recorded by Joyce Company, and no interest has been accrued.
6.	Outstanding checks, July 31, $695.

Prepare a bank reconciliation at July 31, 2014.

JOYCE COMPANY Bank Reconciliation July 31, 2014
Deposits in transitOutstanding checksCollection of note receivableBank service chargeAdjusted cash balance per booksCash balance per bank statementAdjusted cash balance per bank	$
Add:	Cash balance per bank statementCollection of note receivableAdjusted cash balance per booksDeposits in transitOutstanding checksAdjusted cash balance per bankBank service charge
Less:	Bank service chargeCash balance per bank statementCollection of note receivableAdjusted cash balance per bankAdjusted cash balance per booksDeposits in transitOutstanding checks
Outstanding checksCash balance per bank statementBank service chargeAdjusted cash balance per bankAdjusted cash balance per booksCollection of note receivableDeposits in transit	$
Deposits in transitOutstanding checksAdjusted cash balance per booksCollection of note receivableCash balance per booksBank service chargeAdjusted cash balance per bank	$
Add:	Cash balance per booksAdjusted cash balance per bankOutstanding checksAdjusted cash balance per booksDeposits in transitCollection of note receivableBank service charge
Less:	Cash balance per booksOutstanding checksCollection of note receivableDeposits in transitBank service chargeAdjusted cash balance per booksAdjusted cash balance per bank
Outstanding checksDeposits in transitBank service chargeCollection of note receivableAdjusted cash balance per bankCash balance per booksAdjusted cash balance per books	$

Journalize the adjusting entries at July 31 on the books of Joyce Company.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
July 31
(To record collection of note receivable by bank)
July 31
(To record bank service charge)

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