On July 31, 2022, Cullumber Company had a cash balance per books of $6,250 00 The statement from Dakota State Bank on that date showed a balance of $7,800 80 A comparison of the bank statement with the Cash account revealed the following facts 1 The bank service charge for July was $20 00 2 The bank collected $1,630 00 from a customer for Cullumber Company through electronic funds transfer 3 The July 31 receipts of $1,308 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 $394 00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $349 00 5 Checks outstanding on July 31 totaled $1,979 10 6 On July 31, the bank statement showed an NSF charge of $685 00 for a check received by the company from W Krueger, a customer, on account

Question

On July 31, 2022, Cullumber Company had a cash balance per books of $6,250 00  The statement from Dakota State Bank on that date showed a balance of $7,800 80  A comparison of the bank statement with the Cash account revealed the following facts  1  The bank service charge for July was $20 00  2  The bank collected $1,630 00 from a customer for Cullumber Company through electronic funds transfer  3  The July 31 receipts of $1,308 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 $394 00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $349 00  5  Checks outstanding on July 31 totaled $1,979 10  6  On July 31, the bank statement showed an NSF charge of $685 00 for a check received by the company from W  Krueger, a customer, on account

Accepted Answer

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1.		The bank service charge for July was $20.00.
2.		The bank collected $1,630.00 from a customer for Cullumber Company through electronic funds transfer.
3.		The July 31 receipts of $1,308.30 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 $394.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $349.00.
5.		Checks outstanding on July 31 totaled $1,979.10.
6.		On July 31, the bank statement showed an NSF charge of $685.00 for a check received by the company from W. Krueger, a customer, on account.

Question

On July 31, 2022, Cullumber Company had a cash balance per books of $6,250.00. The statement from Dakota State Bank on that date showed a

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