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 $13.00.
2.		The bank collected $1,625.00 from a customer for Crane Company through electronic funds transfer.
3.		The July 31 receipts of $1,307.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31.
4.		Company check No. 2480 issued to L. Taylor, a creditor, for $284.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $245.00.
5.		Checks outstanding on July 31 totaled $1,965.10.
6.		On July 31, the bank statement showed an NSF charge of $680.00 for a check received by the company from W. Krueger, a customer, on account.

Prepare the bank reconciliation as of July 31. (List items that increase balance as per bank & books first.)

CRANE COMPANY Bank Reconciliation choose the accounting period July 31, 2022For the Year Ended July 31, 2022For the Month Ended July 31, 2022
select an opening name for section one Electronic funds transfer receivedNSF checkBank service chargeDeposits in transitCash balance per bank statementOutstanding checksError in recording check No. 2480Adjusted cash balance per bank					$enter a dollar amount
select between addition and deduction AddLess:	select a reconciling item NSF checkError in recording check No. 2480Deposits in transitBank service chargeElectronic funds transfer receivedOutstanding checksCash balance per bank statementAdjusted cash balance per bank				enter a dollar amount
					enter a subtotal of the two previous amounts
select between addition and deduction AddLess:	select a reconciling item Adjusted cash balance per bankNSF checkBank service chargeOutstanding checksDeposits in transitElectronic funds transfer receivedError in recording check No. 2480Cash balance per bank statement				enter a dollar amount
select a closing name for section one NSF checkBank service chargeOutstanding checksCash balance per bank statementDeposits in transitError in recording check No. 2480Electronic funds transfer receivedAdjusted cash balance per bank					$enter a total amount for the first section
select an opening name for section two Bank service chargeError in recording check No. 2480Electronic funds transfer receivedOutstanding checksNSF checkDeposits in transitCash balance per booksAdjusted cash balance per books					$enter a dollar amount
select between addition and deduction AddLess:	select a reconciling item Deposits in transitCash balance per booksError in recording check No. 2480NSF checkAdjusted cash balance per booksBank service chargeOutstanding checksElectronic funds transfer received				enter a dollar amount
					enter a subtotal of the two previous amounts
select between addition and deduction AddLess:
	select a reconciling item NSF checkElectronic funds transfer receivedCash balance per booksAdjusted cash balance per booksOutstanding checksBank service chargeDeposits in transitError in recording check No. 2480		$enter a dollar amount
	select a reconciling item NSF checkError in recording check No. 2480Deposits in transitCash balance per booksOutstanding checksAdjusted cash balance per booksBank service chargeElectronic funds transfer received		enter a dollar amount
	select a reconciling item Adjusted cash balance per booksBank service chargeCash balance per booksError in recording check No. 2480Outstanding checksNSF checkElectronic funds transfer receivedDeposits in transit		enter a dollar amount
					enter a subtotal of the three previous amounts
select a closing name for section two Electronic funds transfer receivedNSF checkAdjusted cash balance per booksError in recording check No. 2480Bank service chargeDeposits in transitCash balance per booksOutstanding checks					$enter a total amount for the second section

eTextbook and Media

List of Accounts

Prepare the necessary adjusting entries at July 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date.	Account Titles and Explanation	Debit	Credit
July 31.	enter an account title to record electronic funds transfer received by bank	enter a debit amount	enter a credit amount
	enter an account title to record electronic funds transfer received by bank	enter a debit amount	enter a credit amount
	(To record electronic funds transfer received by bank)
31.	enter an account title To record NSF check	enter a debit amount	enter a credit amount
	enter an account title To record NSF check	enter a debit amount	enter a credit amount
	(To record NSF check)
31.	enter an account title for the adjusting entry to correct error in recording check	enter a debit amount	enter a credit amount
	enter an account title for the adjusting entry to correct error in recording check	enter a debit amount	enter a credit amount
	(To correct error in recording check)
31.	enter an account title to record bank service charge	enter a debit amount	enter a credit amount
	enter an account title to record bank service charge	enter a debit amount	enter a credit amount
	(To record bank service charge)