Question
Exercise 8-11 (Part Level Submission) The following information pertains to Crane Video Company. 1. Cash balance per bank, July 31, $8,163. 2. July bank service
Exercise 8-11 (Part Level Submission) The following information pertains to Crane Video Company. 1. Cash balance per bank, July 31, $8,163. 2. July bank service charge not recorded by the depositor $34. 3. Cash balance per books, July 31, $8,184. 4. Deposits in transit, July 31, $1,950. 5. Bank collected $1,350 note for Crane in July, plus interest $42, less fee $26. The collection has not been recorded by Crane, and no interest has been accrued. 6. Outstanding checks, July 31, $597. (a) Prepare a bank reconcilitaion at July 31. (b) Journalize the adjusting entries at July 31 on the books of Crane Video Company.
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