On July 31,SheridanLtd. had a cash balance of $11,910in its general ledger. The bank statement from the Caisse Populaire on that date showed a balance of $20,068. A comparison of the bank statement with the Cash account revealed the following:

1.The bank statement included service charges and debit and credit card processing fees of $102.2.The bank statement included electronic collections from customers on account totalling $4,840.Sheridanhad not recorded the EFT.3.A deposit of $2,840made by another company was incorrectly added toSheridan's account by the Caisse Populaire.4.Salaries of $3,840were paid electronically during the month. The company has already recorded these.5.Cheques outstanding on June 30 totalled $2,550. Of these, $1,970worth cleared the bank in July. All cheques written in July cleared the bank in July.

Prepare the bank reconciliation at July 31. (List items that increase balance as per bank & books first.) SHERIDAN LTD. Bank Reconciliation July 31 Cash balance per bank statement Less v : Outstanding cheques $ Deposit incorrectly posted by bank $ Prepare any journal entries required from the reconciliation. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit July 31 (To record EFT collections) 31 (To record bank service charge)