Required information [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 $24,840 debit balance, but its July bank statement shows a $27,600 cash balance. b. Check No. 3031 for $1,670, Check No. 3065 for $611, and Check No. 3069 for $2,438 are outstanding checks as of July 31. c. Check No. 3056 for July rent expense was correctly written and drawn for $1,230 but was erroneously entered in the accounting records as $1,220. d. The July bank statement shows the bank collected $8,000 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 $12 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 $9,132 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. Dennen the hale nilition for thin nama Required information Bank statement balance Add: Error (Check 3056) NSF check S Answer is complete but not enurely correct. BRANCH COMPANY Bank Reconciliation July 31 $ 27,600 ( Book balance Add: $ 24,840 10 Error (Check 3056) $ 4,719 805x 815 Proceeds from note 8,000 28,415 12,719 37,559 Deduct Deduct Check No. 3031 12 x Check No. 3065 9,132 Check No. 3069 4,719 Check No. 3069 8,000 21,863 Error (Check 3056) NSF check Service charge Deposit of July 31 Adjusted bank balance $ 6,552 Adjusted book balance 0000 10 805 12 9.132 9,959 27.600 Required Information [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 $24,840 debit balance, but its July bank statement shows a $27,600 cash balance. b. Check No. 3031 for $1,670, Check No. 3065 for $611, and Check No. 3069 for $2,438 are outstanding checks as of July 31. c. Check No. 3056 for July rent expense was correctly written and drawn for $1,230 but was erroneously entered in the accounting records as $1,220. d. The July bank statement shows the bank collected $8,000 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 $12 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 $9,132 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement. 2. Prepare the journal entries necessary to make the company's book balance of cash equal to the reconciled cash balance as of July 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)