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Jim Midas operates a FedEx Kinko's store. He has just received the monthly bank statement at July 31, 2020, from Royal Bank of Canada, and
Jim Midas operates a FedEx Kinko's store. He has just received the monthly bank statement at July 31, 2020, from Royal Bank of Canada, and the statement shows an ending balance of $585. Listed on the statement are an EFT customer collection of $295, a service charge of $16, two NSF cheques totalling $95, and a $12 charge for printed cheques. In reviewing his cash records, Midas identifies outstanding cheques totalling $605 and a July 31 deposit in transit of $1,805. During July, he recorded a $310 cheque for the salary of a part-time employee as $31. Midas's Cash account shows a July 31 cash balance of S1,892. How much cash does Midas actually have at July 31? Begin by preparing the bank section of the bank reconciliation. Then, continue with the book section of the bank reconciliation. (Leave unused cells blank.) Jim Midas Bank Reconciliation July 31, 2020 BANK: Add: Less BOOKS: Add: Less: Midas has cash of $ at July 31
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