ook The cash records and bank statement for the month of July for Jim Incorporated are shown below. JIM INCORPORATED Cash Account Records July 1, 2021 to July 31, 2021 Cash Balance Cash Balance Cash July 1, 2021 Receipts Cash Disbursements $8,950 July 31, 2021 $7,670 $7,250 $9,370 Cash Receipts Cash Disbursements MITTE Date Desc. Amount Date No. Desc. Amount 7/9 Sales $2,610 7/7 531 Rent $1,400 7/21 Sales 3,340 7/12 532 Salaries 1,950 7/31 Sales 3,420 7/19 533 Equipment 3,800 7/22 534 Utilities 600 7/30 535 Advertising 1,200 $8,950 $9,370 RELIABLE UNION You Can Bank On Us P.O. Box 123878 Watonga, OK 73772 (580) 377-OKIE Account Holder: Account Number: Jim Incorporated 519 Main Street Watonga, OK 73772 Deposits and Credits NO. Beginning Balance July 1, 2021 Statement Date: Withdraws and Debits NO. Total $8,625 Total $7,750 3 $6,010 7 Deposits and Credits. Withdraws and Debits Amount Date No. Amount Desc. $2,610 7/2 530 CHK 3,340 7/10 531 CHK 60 7/14 532 CHK 7/18 NSF 7/22 533 CHK 7/26 EFT 7/30 SP $ 6,010 Date 7/10 7/22 7/31 Desc. DEP DEP INT $ 500 1,400 1,950 300 4,000 400 75 $ 8,625 Member FDIC 2252790471 July 31, 2021 Ending Balance July 31, 2021 $5,135. Daily Balance Date 7/2 7/10 7/14 7/18 7/22 7/26 7/30 7/31 Amount $7,250 8,460 6,510 6,210 5,550 5,150 5,075 $5,135 NUTE Note collected LEA LUBComer check nor Non-surricient runas EFT Electronic funds transfer. Additional information: a. The difference in the beginning balances in the company's records and the bank statement relates to check #530, which is outstanding as of June 30, 2021. b. Check # 533 is correctly processed by the bank. c. The EFT on July 26 relates to the purchase of office supplies. Required: 1. Prepare a bank reconciliation for Jim Incorporated's checking account on July 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) JIM INCORPORATED Bank Reconciliation July 31, 2021 Bank's Cash Balance. Company's Cash Balance Per bank statement Per reconciliation Per general ledger Per reconciliation first account field.) View transaction list Journal entry worksheet A B Record the entries that increase cash. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal Book View transaction list Journal entry worksheet
