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Prepare the necessary adjusting entries at July 31. (The answers in green are already completed and correct. I just need the blank answers completed. Thank
Prepare the necessary adjusting entries at July 31. (The answers in green are already completed and correct. I just need the blank answers completed. Thank you!)
Problem 7-3A (Part Level Submission) On July 31, 2014, Redeker Company had a cash balance per books of $6,140. The statement from Nashota State Bank on that date showed a balance of $7,690.80. A comparison of the bank statement with the Cash account revealed the following facts 1. The bank service charge for July was $25 2. The bank collected a note receivable of $1,500 for Redeker Company on July 15, plus $30 of interest. The bank made a $10 charge for the collection. Redeker has not accrued any interest on the note 3. The July 31 receipts of $1,193.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31 4. Company check No. 2480 issued to T. Laird, a creditor, for $384 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $348 5. Checks outstanding on July 31 totaled $1,860.10 6. On July 31, the bank statement showed an NSF charge of $575 for a check received by the company from K. Wagner, a customer, on account
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