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On July 31, 2022. Teal Mountain Company had a cash balance per books of $6,285. The statement from Dakota State Bank on that date showed
On July 31, 2022. Teal Mountain Company had a cash balance per books of $6,285. The statement from Dakota State Bank on that date showed a balance of $7,835.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. 2 The bank service charge for July was $17. The bank collected $1,665.00 for Teal Mountain Company through electronic funds transfer. The July 31 receipts of $1,346.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. 3. 4. Company check No. 2480 issued to L. Taylor, a creditor, for $384 that cleared the bank in July was incorrectly entered in the cash payments record on July 10 for $348. 5. Checks outstanding on July 31 totaled $2.005.10. 6. On July 31, the bank statement showed an NSF charge of $720.00 for a check received by the company from W. Krueger, a customer, on account. (a) Prepare the bank reconciliation as of July 31. (List items that increase balance as per bank & books first.) TEAL MOUNTAIN COMPANY Bank Reconciliation $ For the Month Ended July 31, 2022 July 31, 2022 For the Year Ended July 31, 2022 $
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