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Required information The following information applies to the questions displayed below] The bookkeeper at Branch Company has asked you to prepare their July bank reconciliation.
Required information The following information applies to the questions displayed below] The bookkeeper at Branch Company has asked you to prepare their July bank reconciliation. Use following information to prepare the bank reconciliation as of July 31st. a. On July 31st, the company's Cash account has a $25,581 debit balance, but its July bank statement shows a $27,515 cash balance. b. Check No. 3031 for $1,340, Check No. 3065 for $446, and Check No. 3069 for $2.108 are outstanding checks as of July 31st. C. Check No. 3056 for July rent expense was correctly written and drawn for $1.250 but was erroneously entered in the accounting records as $1,240. d. The July bank statement shows the bank collected $8,500 cash on a note for Branch Company 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, E. Shaw. Branch Company has not yet recorded this check as NSF. 1. The July statement shows a $13 bank service charge. It has not yet been recorded in thiscellaneous expenses because no previous notification had been received. 9. Branch Company's July 31st daily cash receipts of $9,632 were placed in the bank's night depository on that date but do not appear on the July 31st bank statement. Required: 1. Prepare the bank reconciliation for this company as of November 30th BRANCH COMPANY Bank Reconciliation July 31 $ 27515 Book balance Bank statement balance $ 22.581 Add Add 27 515 Deduct Deduct
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