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On August 1. 20X1 the accountant for Westem imports downioaded the companys. July 31, 201, bank statement from the bank's website. The balance shown on

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On August 1. 20X1 the accountant for Westem imports downioaded the companys. July 31, 201, bank statement from the bank's website. The balance shown on the bank statement was $28,720. The July 31,201, balance in the Cash account in the general ledger was 514,466 . Jenny Irvine, the accountant for Westem imports, noted the following differences between the banks records and the company's Cosh. account in the general ledger a. An electronic funds transfer for $14,000 from Foncier Ricard, a customer located in France, was received by the bank on July 31 . b. Check 1422 was correctly written and recorded for $1,200. The bank mistakenly pald the check for $1,280. c. The accounting records indicate that Check 1425 was issued for $69 to make a purchase of supplies. However examination of the check online showed that the actual amount of the check was for $99. d. A deposit of $760 made atter banking houis on July 31 did not appear on the July 31 bank statement. e. The followeng checks were outstanding Check 1429 for $1,245 and Check 1430 for $137 1. An automatic debt of $258 on July 31 from CentraiComm for telephone service appeared on the bank statement but had not been recorded in the company's accounting records Required: 1. Prepare a bark reconciliation for the firm as of July 31 . 2. Record general journal entries for the tems on the bank reconciliation that must be journalized: Analyze: What was the effect on total expenses as a result of the general journal entries recorded

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