Please show your work.
The following information is available to reconcile Branch Company's book balance of catch with a bank statemont cach buttance as of July 31 a On July 31, the company's Cath account has a $24,888 debit balance, but its July bank statement shows a $26,301 b. Chock No. 3031 for $1,130, Check No. 3065 for $341, and Check No. 3069 for $1898 are outstanding checks as of July 31. Check No. 3056 for July rent expence was correctly witten and drawn for $1220 but was erroneously entered in the d. The July bank statement shows the bank collected $6.000 cash on a note for Branch Branch had not recorded this event before receiving the statement e. The bank statement shows an $806 NSF check. The check had been received from a customer, Evan Show. Branch has not yet recorded this check as NSF. The July statement shows a $9 bank service charge. It has not yot been recorded in miscellaneous expertos because no previous noufication had been received 9. Branch's July 31 daty cash receipts of $7:32 were placed in the bank's right depository on that date but do not appear on the July 31 bank statement Required: 1. Prepare the bank reconciliation for this company as of July 31 BRANCH COMPANY Bank Reconciliation July 31 Book balance Add Bank statement balance Add 0 01 0 Deduct 0 Deduct 0 0 $ 0 Adjusted bank balance Adjusted book balance balance as of July 31 a. On July 31, the company's Cash account has a $24,888 debit balance, but its July bank statement shows a $26,301 cash balance b. Check No. 3031 for $1130, Check No. 3065 for $341, and Check No. 3069 for $1,898 are outstanding checks as of July 31. Check No. 3056 for July rent expense was correctly written and drawn for $1.220 but was erroneously entered in the accounting records as $1.210. d. The July bank statement shows the bank collected $6,000 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. 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 nouification had been received. 9. Branch's July 31 daily cash receipts of $7132 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 make the company's book balance of cash equal to the reconciled cash balance as of July 31 of no entry is requtred for a transaction/event, select "No journal entry required" in the first account field.) View transaction ust Journal entry worksheet 1 2 3 4 5 0 7 Record the adjusting entry required, if any, related to the July 31 cath balance, Transaction General Journal Debit Credit View transaction llat Journal entry worksheet Record the adjusting entry required, if any, related to the outstanding checks, Note: Enter seits before credits Transaction General Journal Debit Credit 2. Prepare the journal entries necessary to make the company's book balance of cash equal to the reco 31. (If no entry is required for a transaction/event, select "No Journal entry required" in the first acco View transaction list Journal entry worksheet Record the adjusting entry required, if any, related to Check No. 3056. Note: Enter debits before credits Transaction General Journal Debit Credit 2. Prepare the journal entries necessary to make the company's book balance of cash equal to the reconciled cas 31. (If no entry is required for a transaction/event, select "No Joumal entry required" In the first account field) View transaction list Journal entry worksheet Record the adjusting entry required, if any, for the collection of the note by bank for Branch Note: Enter debits before credits General Journal Debit Credit Transaction d. 2. Prepare the Journal entries necessary to make the company's book balance of cash equal to the reconciled cash 31. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) View transaction at Journal entry worksheet Record the adjusting entry required, if any, related to bank service charges. Note Enter cats before trees Transaction General Journal Debit Credit 2. Prepare the journal entries necessary to make the company's book balance of cash equal to the reconciled cash balance as of Jut 31. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field) View transaction wat Journal entry worksheet
