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Hello, I need some help. I tried answering some of the questions but im stuck from here... Problem 7-3A On July 31, 2014, Redeker Company
Hello, I need some help. I tried answering some of the questions but im stuck from here...
Problem 7-3A
On July 31, 2014, Redeker Company had a cash balance per books of $6,246. The statement from Nashota State Bank on that date showed a balance of $7,796.80. A comparison of the bank statement with the Cash account revealed the following facts.
1. | The bank service charge for July was $22. | |
2. | The bank collected a note receivable of $1,612 for Redeker Company on July 15, plus $33 of interest. The bank made a $13 charge for the collection. Redeker has not accrued any interest on the note. | |
3. | The July 31 receipts of $1,308.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. | |
4. | Company check No. 2480 issued to T. Laird, a creditor, for $364.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $346.00. | |
5. | Checks outstanding on July 31 totaled $1,954.10. | |
6. | On July 31, the bank statement showed an NSF charge of $687 for a check received by the company from K. Wagner, a customer, on account. |
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