Question
Kesler Co. deposits all receipts intact on the day received and makes all payments by cheque. On July 31, 2023, completed, its Cash account showed
Kesler Co. deposits all receipts intact on the day received and makes all payments by cheque. On July 31, 2023, completed, its Cash account showed a $10,913 debit balance. However, Kesler's July 31 bank statement showed deposit in the bank on that day along with the following information. a. Outstanding cheques, $2,750. 0 b. Included with the July cancelled cheques returned by the bank was a $24 debit memo for bank services. c. Cheque #919, returned with the cancelled cheques, was correctly drawn for $896 in payment of the utility bil bank on July 15. However, it had been recorded with a debit to Utilities Expense and a credit to Cash as thou d. The July 31 cash receipts, $3,677, were placed in the bank's night depository after banking hours on that dat by the bank at the time the July bank statement was prepared. Required: a. Prepare a bank reconciliation for Kesler Co. at July 31. Bank Statement KESLER CO. Bank Reconciliation July 31, 2023 Company's Books
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