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Required information

Problem $8-4$A $($Algo$)$ Preparing a bank reconciliation and recording entries LO P$3$

$[$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 $$25,605$ debit balance, but its July bank statement shows a $$27,389$

cash balance.

b$.$ Check Number $3031$ for $$1,280,$ Check Number $3065$ for $$416,$ and Check Number $3069$ for $$2,048$ are outstanding

checks as of July $31.$

c$.$ Check Number $3056$ for July rent expense was correctly written and drawn for $$1,210$ but was erroneously entered

in the accounting records as $$1,200.$

d$.$ The July bank statement shows the bank collected $$8,500$ 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 $$13$ 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 $$9,632$ were placed in the bank's night depository on that date but do not

appear on the July $31$ bank statement.

Problem $8-4$A $($Algo$)$ Part $1$

Required:

Prepare the bank reconciliation for this company as of July $31.$