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Prepare the bank reconciliation at July 31, 2016, for the Trust Me company using the information listed below. Cash balance per bank, July 31. $4,
Prepare the bank reconciliation at July 31, 2016, for the Trust Me company using the information listed below. Cash balance per bank, July 31. $4, 213 Cash balance per books, July 31, $3, 421 Service charge for month of July, $30 Outstanding checks at July 31, $1, 411 check from Genuine Company (a customer) for $750 Deposits in transit at July 31, $1600 Included with the cancelled checks was a check issued by Trust You Company to Sincere Company for $425 that was incorrectly charged to Trust Me A $2, 100 note receivable was collected by the bank for Trust Me Company on July 31 plus $75 interest. The bank charged a $25 collection fee. No interest has been accrued on this note. On July 12, Trust Me issued check #3200 for $815 to Innocent Company on account. The check cleared the bank in July for correct amount. However, Trust Me incorrectly journalized and posted the check for $851
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