Problem 7-3A (Part Level Submission)

On July 31, 2017, Sandhill Co. had a cash balance per books of $6,285.00. The statement from Dakota State Bank on that date showed a balance of $7,835.80. A comparison of the bank statement with the Cash account revealed the following facts.

1.

The bank service charge for July was $17.00.2.

The bank collected $1,665.00 for Sandhill Co. through electronic funds transfer.3.

The July 31 receipts of $1,346.30 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 L. Taylor, a creditor, for $384.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $348.00.5.

Checks outstanding on July 31 totaled $2,005.10.6.

On July 31, the bank statement showed an NSF charge of $720.00 for a check received by the company from W. Krueger, a customer, on account.