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Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last
Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2016 bank statement included the following information: The company's general ledger account had a balance of exist40, 448 at the end of July. Deposits outstanding totaled exist7, 200 and all checks written by the company were processed by the bank except for those totaling exist8, 510. In addition, a exist2, 900 July deposit from a credit customer was recorded as a exist290 debit to cash and credit to accounts receivable, and a check correctly recorded by the company as a exist75 disbursement was incorrectly processed by the bank as a exist750 disbursement. Required: Prepare a bank reconciliation for the month of July
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