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need help asap On July 31, 2022, Crane Company had a cash balance per books of $6,245.00. The statement from Dakota State Bank on that
need help asap
On July 31, 2022, Crane Company had a cash balance per books of $6,245.00. The statement from Dakota State Bank on that date showed a balance of $7,795.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $16.00, 2 The bank collected $1,625.00 from a customer for Crane Company through electronic funds transfer 3 The July 31 receipts of $1,304.30 were not included in the bank deposits for July. These receipts were deposited by the company ny in a night deposit vault on July 31. Company check No. 2480 issued to L. Taylor, a creditor, for $284.00 that deared the bank in July was incorrectly entered in the cash payments journal on July 10 for $245,00 Checks outstanding on July 31 totaled $1.965.10. On July 31, the bank statement showed an NSF charge of 5680.00 for a check received by the company from W. Krueger, a customer, on account 4 5. 6. Prepare the bank reconciliation as of July 31. (List items that increase balance as per bank & books first. Round answers to 2 decimal places, s. 5.275.25.) CRANE COMPANY Bank Reconciliation CRANE COMPANY Bank Reconciliation > > > July 31 (To record electronic funds transfer received by bank) 31. (To record NSF check) 31 To correct error in recording check) 31 To record bank service charge Step by Step Solution
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