Question
he following information is for Ivanhoe Company: 1. Cash balance per bank, July 31, $7,658. 2. July bank service charge not recorded by the depositor,
he following information is for Ivanhoe Company: 1. Cash balance per bank, July 31, $7,658. 2. July bank service charge not recorded by the depositor, $22. 3. The bank erroneously charged another companys $730 cheque against Ivanhoes account. 4. Cash balance per books, July 31, $9,135. 5. The bank charged Ivanhoes account $360 for a customers NSF cheque. 6. Deposits in transit, July 31, $2,290. 7. Ivanhoe recorded a cash receipt for a cash sale from a customer as $32. The bank correctly recorded it as $23. 8. The bank collected a $1,300 note for Ivanhoe in July, plus interest of $37, less a fee of $21. The collection has not been recorded by Ivanhoe and no interest has been accrued. 9. Outstanding cheques, July 31, $618.
a)epare a bank reconciliation for July 31. (List items that increase balance as per bank & books first.)
b)Journalize the adjusting entries for July 31 on the books of Ivanhoe Company.
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