Answered step by step
Verified Expert Solution
Question
1 Approved Answer
options for the sides Exercise 5-8 The following information pertains to Blossom Company. 1. Cash balance per bank, July 31, $7,888. 2. July bank service
options for the sides
Exercise 5-8 The following information pertains to Blossom Company. 1. Cash balance per bank, July 31, $7,888. 2. July bank service charge not recorded by the depositor $51. 3. Cash balance per books, July 31, $7,924. 4. Deposits in transit, July 31, $3,260. 5. $2,576 collected for Blossom Company in July by the bank through electronic funds transfer. The collection has not been recorded by Blossom Company. 6. Outstanding checks, July 31, $699 Prepare a bank reconciliation at July 31, 2017. (List items that increase balance as per bank & books first.) BLOSSOM COMPANY Bank Reconciliation are a tabular analys Sfor the ad ustments at y 31 onthe books of Boss m Company,ldude mage explanat onsforet chageln inus ardegerses (m. transaction suitsle.decreas " negative sign (or parentheses) ivn front of the amount entered for the particular Asset, Liabwwty or Equity item that was reduced.) sosabilitie or stockholders te in Pa Liabilities Accts. Rec. Cash +Rew. Exp. Bank charges expense Sales revenue Miscellaneous expense Cash over and shortStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started