Problem 8-5A (Part Level Submission) Rodriguez Company maintains a checking account at the Imura Bank. At July 31, selected data from the ledger balance and the bank statement are shown below. Cash in Bank Per Books Per Bank $17,750 $15,950 81,550 Balance, July 1 July receipts July credits July disbursements July debits 83,625 77,300 74,906 $24,669 Balance, July 31 $22,000 Analysis of the bank data reveals that the credits consist of $79,000 of July deposits and a credit memorandum of $4,625 for the collection of a $4,550 note plus interest revenue of $75. The July debits per bank consist of checks cleared $74,845 and a debit memorandum of $61 for printing additional company checks. You also discover the following errors involving July checks. (1) A check for $170 to a creditor on account that cleared the bank in July was journalized and posted as $710. (2) A salary check to an employee for $755 was recorded by the bank for $655. The June 30 bank reconciliation contained only two reconciling items: deposits in transit $8,150 and outstanding checks of $6,350. (a) Your answer is correct. Prepare a bank reconciliation at July 31, 2017. (List items that increase cash balance first. Reconcile cash balance per bank first.) RODRIGUEZ COMPANY Bank Reconciliation July 31, 2017 Cash balance per bank statement 24669 Add Deposit in transit 10700 35369 Less Outstanding checks 8165 Bank error 100 8265 Adjusted cash balance per bank 27104 $ Cash balance per books 22000 Add 4 Book error 540 Collection of note receivable by bank, 4625 5165 1 27165 Less Check printing charge 61 Adjusted cash balance per books 27104 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER (b) Journalize the adjusting entries to be made by Rodriguez Company. Assume that interest on the note has not been accrued. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit July 31 (To record collection of note receivable.) July 31 (To record error on check.) July 31