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Eank Recenciliation Onjuly 31, Sulivan Companys Cash in Bunk accourt had a talance of 57,216.60. On thut date, the bank statement indiceted a balance of 990 os 35 A comparison of refurned checks and bank atvices revealed the following: 1 Deposts in transt july 31 amounted to 53.576 .95 . 2 Outstanding checks july 31 totaled $1.497.90 1. The bank erroneocaly charged a $325.00 obeck of Solcmon Company against the Sullivan bank account. 4 A bank service charge has not yet been recorded by Sullwar Compary of 125 o0 7. Sellivan Compary recorded a $109,00 parment for repairs as $1,09000 .ured a. Prepare a bank reconciliation for sutivan Company at july 31. b. Prepare the journal ectry for entreth necelsary to bring the Cash in bank account into atteement with the reconcied cash balance on the bank reconcilation. Note: Do not round answers-enter using rwo ofcimal places. when reeded. Bank reconciliation journal entries \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{10}{|c|}{\begin{tabular}{c} SULLIVAN COMPANY \\ Bank Reconciliation \\ July 31 \end{tabular}} \\ \hline \multicolumn{2}{|r|}{ Ending balance from bank statement } & \multirow{2}{*}{\begin{tabular}{l} = \\ = \end{tabular}} & \multirow[t]{2}{*}{5} & \multirow{2}{*}{\begin{tabular}{l} 9,098.55 \\ 3,576.95 \end{tabular}} & \multicolumn{2}{|c|}{ Balance from general ledger } & & \multirow[t]{2}{*}{s} & \multirow{2}{*}{\begin{tabular}{r} 7,216.6 \\ 4,000 \end{tabular}} \\ \hline Add: & Deposits not credited by bank & & & & Add: & Proceeds of note & & & \\ \hline \multirow[t]{3}{*}{ Add: } & Bank error-Solomon Company check & & & & & Check & 109 & & \\ \hline & Charged against Sullivan Company's acco & ount & & 325 & & recorc & 1,090 & & 981 \\ \hline & & & & 13,0005 & & & & & 12,197.6 \\ \hline \multirow[t]{2}{*}{ Less: } & Outstanding checks & & & 1,467.9 & Less: & Service charge & = & & 25 \\ \hline & & & & & Les: & NSF Check & + & & 640 \\ \hline \multicolumn{2}{|c|}{ Reconciled cash balance } & & 5 & 11,532.6 & & & = & 5 & 11,532.6 \\ \hline \end{tabular} Bank reconciliation Journal entries \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{ GENERAL JOURNAL } \\ \hline July & 31 & Cash in Bank & & $ & 0 & $ \\ \hline & & Notes Payable & ^ & & 0 & 0 \\ \hline & & To record proceeds of note. & & & & \\ \hline & 31 & Cash in Bank & ^ & & 0 & 0 \\ \hline & & Repairs Expense & & & 0 & 0 \\ \hline & & To correct recording of check. & . & & & \\ \hline & 31 & Notes Payable & & & 0 & 0 \\ \hline & & Cash in Bank & & & 0 & 0 \\ \hline & & To record service charge. & & & &. \\ \hline & 31 & Accounts Receivable & & & 0 & 0 \\ \hline & & Cash in Bank & & & 0 & 0 \\ \hline & & Cash in Bank & & & 0 & 0 \\ \hline & 1 & To reclassify NSF check as an acc & able. & & & \\ \hline \end{tabular} Check
