Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement nlong with canceled checks on the last day of each month. The July 2021 bank statement included the following information: points Balance, July 1, 2021 Deposits Checks processed Service charges NSF checks Monthly payment on note, deducted directly by bank from account (includes $220 in interest Balance, July 31, 2021 $ 57.428 180, 900 (194,010) (45) (1,900) (4,020) 38.353 The company's general ledger account had a balance of $40,803 at the end of July. Deposits outstanding totaled $7,700 and all checks written by the company were processed by the bank except for those totaling $8,560. In addition, a $3,400 July deposit from a credit customer was recorded as a $340 debit to cash and credit to accounts receivable, and a check correctly recorded by the company as a $45 disbursement was incorrectly processed by the bank as a $450 disbursement. Required: 1. Prepare a bank reconciliation for the month of July. 2. Prepare the necessary journal entries at the end of July to adjust the general ledger cash account. x Answer is not complete. Complete this question by entering your answers in the tabs below. Required Required Prepare a bank reconciliation for the month of July. Bank Balance to Corrected Balance Balance per bank statement Add: Deposits outstanding Add: Bank error in recording check $ 39,352 7,700 (8.155 X $ 37,898 Corrected cash balance Book Balance to Corrected Balance Balance per books Add: Error in recording cash receipt Less: NSF chacks Less: Monthly payment on note Less: Service charges $ 40,803 3,060 1.900 4,020 45 Harrison Company maintains a checking account at the First National City Bank. The bank provides a ban along with canceled checks on the last day of each month. The July 2021 bank statement included the following information: points Balance, July 1, 2021 Deposits Checks processed Service charges NSF checks Monthly payment on note, deducted directly by bank from account (includes $220 in interest) Balance, July 31, 2021 $ 57,428 180, 900 (194, 010) (45) (1,900) (4,020) 38,353 The company's general ledger account had a balance of $40,803 at the end of July. Deposits outstanding totaled $7,700 and all checks written by the company were processed by the bank except for those totaling $8,560. In addition, a $3,400 July deposit from a credit customer was recorded as a $340 debit to cash and credit to accounts receivable, and a check correctly recorded by the company as a $45 disbursement was incorrectly processed by the bank as a $450 disbursement. Required: 1. Prepare a bank reconciliation for the month of July. 2. Prepare the necessary journal entries at the end of July to adjust the general ledger cash account. Answer is not complete. Complete this question by entering your answers in the tabs below. Required Required Prepare the necessary journal entries at the end of July to adjust the general ledger cash account. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Show less NoEvent General Journal Debit Credit Cash 3,060 Accounts receivable 3,060 1
