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Required information [The following information applies to the questions displayed below.) Part 2 of 2 ..5 oints The following information is available to reconcile Branch
Required information [The following information applies to the questions displayed below.) Part 2 of 2 ..5 oints The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. Skipped eBook Print References a. On July 31, the company's Cash account has a $25,184 debit balance, but its July bank statement shows a $27,398 cash balance. b. Check No. 3031 for $1,450, Check No. 3065 for $501, and Check No. 3069 for $2,218 are outstanding checks as of July 31. c. Check No. 3056 for July rent expense was correctly written and drawn for $1,260 but was erroneously entered in the accounting records as $1,250. d. The July bank statement shows the bank collected $5,500 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 $8 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 $6,632 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.) 1 Record the adjusting entry required, if any, related to the July 31 cash balance. 2 Record the adjusting entry required, if any, related to the outstanding checks. 3 Record the adjusting entry required, if any, related to Check No. 3056. 4 Record the adjusting entry required, if any, for the collection of the note by bank for Branch. 5 Record the adjusting entry required, if any, related to the NSF check. 6 Record the adjusting entry required, if any, related to bank service charges. 7 Record the adjusting entry required, if any, related to the July 31 deposit
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