Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Just need part B solved, Thanks!!! The following information is for Paul's Logistics Company: 1. Cash balance per bank, July 31,$7,900. 2. July bank service
Just need part B solved, Thanks!!!
The following information is for Paul's Logistics Company: 1. Cash balance per bank, July 31,$7,900. 2. July bank service charge not recorded by the depositor, $44. 3. Cash balance per books, July 31,$7,800. 4. Deposits in transit, July 31,$1,000. 5. Bank collected $630 note for Paul's in July, plus interest $40, less fee $26. The collection has not been recorded by Paul's, and no interest has been accrued. 6. Outstanding cheques, July 31, $500. (a) Prepare a bank reconciliation at July 31. (List items that increase balance as per bank \& books first.) Journalize the entries required by the reconciliation at July 31 on the books of Paul's Logistics Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started