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VERSIO Problem 7-5A (Part Level Submission) Rodriguez Company maintains a checking account at the Imura Bank. At July 31, selected data from the ledger balance and the bank statement are shown below. Cash in Bank Per Books Per Bank Balance, July 1 July receipts July credits uly disbursements uly debits Balance, July 31 $17,600 $15,800 83,470 74,756 81,400 77,150 $21,850 24,514 Analysis of the bank data reveals that the credits consist of $79,000 of July deposits and a credit memorandum of $4,470 for the collection of a $4,400 note plus interest revenue of $70. The July debits per bank consist of checks cleared $74,700 and a debit memorandum of 56 for printing additional company checks You also discover the following errors involving July checks. (1) A check for $230 to a creditor on account that cleared the bank in July was journalized and posted as $320. (2) A salary check to employee for $255 was recorded by the bank for $155 The June 30 bank reconciliation contained only two reconciling items: deposits in transit $8,000 and outstanding checks of $6,200 Prepare a bank reconciliation at July 31, 2017. (List items that increase cash balance first. Reconcile cash balance per bank first.) RODRIGUEZ COMPANY Bank Reconciliation July 31, 2017 Cash balance per bank statement 24,514 AddDeposits in transit Less Outstanding checks Check printing charge Adjusted cash balance per bank Cash balance per books Add Bank error Collection of note receivable by bank LessCheck printing charge Adjusted cash balance per books Collection of note receivable by bank Outstanding checks Cash balance per books Adjusted cash balance per bank Bank error Deposits in transit Book error Check printing charge Adjusted cash balance per books Cash balance per bank statement