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, 2017 a. On July 31, the company's Cash account has a $24,756 debit balance, but its July bank statement shows a $27.744 cash balance. b. Check No. 3031 for $1.780 and Check No. 3040 for $882 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is not. Also, Check No. 3065 for $666 and Check No. 3069 for $2,548, both written in July, are not among the canceled checks on the July 31 statement. c. In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that 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 $6.000 cash on a noninterest-bearing note for Branch, deducted a $30 collection expense, and credited the remainder to its account. Branch had not recorded this event before receiving the statement e. The bank statement shows an $805 charge for a $795 NSF check plus a $10 NSF charge. 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 $9 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 $7152 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement. OBH Required: 1. Prepare the bank reconciliation for this company as of July 31, 2017 $ 24,756 Bank statement balance Add Deposit of July 31 $ 7.152 BRANCH COMPANY Bank Reconciliation July 31, 2017 $ 27,744 Book balance Add Proceeds of note less collection charge 7.152 34,896 Deduct Error (Check 3056) Service charge 0 24.756 10 30 Deduct Check No. 3031 Check No. 3040 Check No. 3065 Check No: 3069 Adjusted bank balance 1.780 882 666 2,548 $ 5,876 29.020 Adjusted book balance 40 $ 24,716 O Search O RE 00 [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, 2017 a. On July 31, the company's Cash account has a $24.756 debit balance, but its July bank statement shows a $27,744 cash balance b. Check No. 3031 for $1,780 and Check No. 3040 for $882 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is not. Also, Check No. 3065 for $666 and Check No. 3069 for $2,548, both written in July, are not among the canceled checks on the July 31 statement. c. In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that 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 $6,000 cash on a noninterest-bearing note for Branch, deducted a $30 collection expense, and credited the remainder to its account. Branch had not recorded this event before receiving e. The bank statement shows an $805 charge for a $795 NSF check plus a S10 NSF charge. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. 1. The July statement shows a $9 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 $7152 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement the statement 2. Prepare the journal entries necessary to bring the company's book balance of cash into conformity with the reconciled cash balance ac nf lulu 21 2017 /f nn antru le rannirar for Arrancartinnlevant caler"No inurnal entre renuiran" in the firet Arrunt field Record the adjusting entry required, if any, related to the July 31 cash balance Note: Enter debits before credits. Transaction General Journal Debit Credit