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 $2018$ bank statement included the following information:

The company's general ledger account had a balance of $$39,598$ at the end of July. Deposits outstanding totaled $$6,700$ and all

checks written by the company were processed by the bank except for those totaling $$8,460.$ In addition, a $$2,400$ July deposit from a

credit customer was recorded as a $$240$ debit to cash and credit to accounts receivable, and a check correctly recorded by the

company as a $$50$ disbursement was incorrectly processed by the bank as a $$500$ disbursement.

Required:

Prepare a bank recanciliation for the month of July.

Prepare the necessary journal entries at the end of July to adjust the general ledger cash account.