Required information Problem 6-4A Preparing a bank reconciliation and recording adjustments LO P3 The following information applies to the questions displayed below) The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31 a. On July 31, the company's Cash account has a $25,386 debit balance, but its July bank statement shows a $26,622 cash balance b. Check No 3031 for $1,060, Check No. 3065 for $306, and Check No. 3069 for $1.828 are outstanding checks as of July 31 c. Check No 3056 for July rent expense was correctly written and drawn for $1.270 but was erroneously entered in the accounting records as $1,260 d. The July bank statement shows the bank collected $7,500 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 $11 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received, g. Branch's July 31 daily cash receipts of $8,632 were placed in the bank's night 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 $ 26,622 Book balance Add: Bank statement balance Add: Deposit of July 31 $ 8,632 0 8,632 35,254 0 Deduct 1.080 Deduct Check No. 3031 Check No. 3065 Check No. 3069 306 1.828 0 3,194 32,060 Adjusted book balance $ S. 0 Adjusted bank balance 31. CH COMPANY Reconciliation July 31 522 Book balance Add: 632 254 Check No. 3031 Check No. 3040 Check No. 3065 Check No. 3069 3,194 32,060 Adjusted book balance 3 4 of 4 Next > PrtScn FB Home 59 56 F7 31. H COMPANY econciliation July 31 22 Book balance Add: 632 254 Deposit of July 31 Error (Check 3056) NSF check + Proceeds from note 3,194 Service charge 2,060 Adjusted book balance $