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Kesler Ca deposits all receipts intact on the day received and makes all payments by cheque. On July 31,2023 , after all posting was completed,
Kesler Ca deposits all receipts intact on the day received and makes all payments by cheque. On July 31,2023 , after all posting was completed, its Cash account showed a \$10,919 debit balance. However. Kesler's July 31 bank statement showed only $10,062 on deposit in the bank on that day along with the following information. a. Outstanding cheques, $2,752 b. Included with the July cancelled cheques returned by the bank was a $62 debit memo for bank services. c. Cheque $919, returned with the cancelled cheques, was correctly drawn for $237 in payment of the utility bill and was paid by the bank on July 15. However, it had been recorded with a debit to Utilities Expense and a credit to Cash as though it were for $327. d. The July 31 cash receipts, $3,637, were placed in the bank's night depository after banking hours on that date and were unrecorded by the bank at the time the July bank statement was prepared. Required: a. Prepare a bank reconciliation for Kesler Co. at July 31. Required: o. Prepare a bank reconciliation for Kesler Co. at July 31. a. Give the joumal entries that Kesler Co. should make as a result of having prepared the bank reconciliation in part (a) Journal entry worksheet b. Give the journal entries that Kesler Co. should make as a result of having prepared the bank reconciliation in part (a) Journal entry worksheet Analysis Component Identify whether profit, assets, liabilities, and equity would be over- or understated if the journal entries in part (b) were not recoru (if there is no effect on ony of the elements, select "No effect".)
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