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SA Rodriguez Company maintains a checking account at the Imura Bank. At July 31, P8- selected data from the ledger balance and the bank statement
SA Rodriguez Company maintains a checking account at the Imura Bank. At July 31, P8- selected data from the ledger balance and the bank statement are shown below. Cash in Bank Per Books Balance, July 1 July receipts July credits July disbursements July debits Balance, July 31 Per Bank $15,800 83,470 74,756 $24,514 $17,600 81,400 77,150 $21,850 Analysis of the bank data reveals that the credits consist of $79,000 of July deposits anda credit memorandum of $4,470 for the collection of a $4,400 note plus interest revenue of $70. The July debits per bank consist of checks cleared $74,700 and a debit memorandum of $56 for printing additional company checks You also discover the following errors involving July checks. (1) A check for $230 to a itor on account that cleared the bank in July was journalized and posted as $320. (2) A salary check to an employee for $255 was recorded by the bank for $155. transit $8,000 and outstanding checks of $6,200. Instructions (a) Prepare a bank reconciliation at July 31, 2017. The June 30 bank reconciliation contained only two reconciling items: deposits in (b) )Journalize the adjusting entries to be made by Rodriguez Company. Assume that inter- est on the note has not been accrued
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