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Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate compla Required information [The following information applies to the questions displayed below.) The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31, 2017 cash balance. a. On July 31, the company's Cash account has a $25,646 debit balance, but its July bank statement shows a $27,634 b. Check No. 3031 for $1,380 and Check No. 3040 for $682 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is not. Also, Check No. 3065 for $466 and Check No. 3069 for $2,148, both written in July, are not among the canceled checks on the July 31 statement. c. In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that Check No. 3056 for July rent expense was correctly written and drawn for $1,230 but was erroneously entered in the accounting records as $1,220. d. The July bank statement shows the bank collected $6,000 cash on a noninterest-bearing note for Branch, deducted a $30 collection expense, and credited the remainder to its account. Branch had not recorded this event before receiving e. The bank statement shows an $805 charge for a $795 NSF check plus a $10 NSF charge. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. f. The July statement shows a $9 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received. g. Branch's July 31 daily cash receipts of $7,152 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement. the statement. Required: 1. Prepare the bank reconciliation for this company as of July 31, 2017 Answer is not complete. VERULEI Required: 1. Prepare the bank reconciliation for this company as of July 31, 2017 X Answer is not complete. $ 25,646 Bank statement balance Add Deposit of July 31 $ 7,152 BRANCH COMPANY Bank Reconciliation July 31, 2017 $ 27,634 Book balance Add: Proceeds of note less collection charge 7,152 34,786 Deduct: Service charge NSF check Error (Check 3056) 3,994 $ 30.792 Adjusted book balance 0 25,646 Deduct: Check No. 3031 Check No. 3065 Check No. 3089 1,380 466 OOO OO O 9 805 10 2,148 Adjusted bank balance 824 $ 24,822 Prev 1 2 of 2 Next > $30 collection expense, and credited the remainder to its account Branch had not recorded this event before receiving the statement e. The bank statement shows an $805 charge for a $795 NSF check plus a $10 NSF charge. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. f. The July statement shows a $9 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received. g. Branch's July 31 daily cash receipts of $7,152 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement 2. Prepare the journal entries necessary to bring the company's book balance of cash into conformity with the reconciled cash balance as of July 31, 2017. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Record the adjusting entry required, if any, related to the July 31 cash balance. Note: Enter debits before credits Transaction General Journal Debit Credit a
