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Spielberg Company's general ledger shows a checking account balance of $22,960 on July 31, 2021. The July cash receipts of $1,875, Included in the general
Spielberg Company's general ledger shows a checking account balance of $22,960 on July 31, 2021. The July cash receipts of $1,875, Included in the general ledger balance, are placed in the night depository at the bank on July 31 and processed by the bank on August 1. The bank statement dated July 31 shows bank service fees of $54. The bank processes all checks written by the company by July 31 and lists them on the bank statement, except for one check totaling $1,450. The bank statement shows a balance of $22,481 on July 31. Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on July 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) SPIELBERG COMPANY Bank Reconciliation July 31, 2021 Bank's Cash Balance Company's Cash Balance Per Bank Statement $ 22,481 Per General Ledger $ 22,960 Checks Outstanding (1,450) Deposits Outstanding 1,875| Service Fees (54) Bank Balance per Reconciliation $ 22,906 Company Balance per Reconciliation $ 22,906 2. Record the necessary entry(ies) to adjust the balance for cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet General Journal Debit Credit No 1 Date July 31, 2021 Deferred Revenue 2. Record the necessary entry(ies) to adjust the balance for cash. (If no entry is required for a transaction/event, select "No. Entry Required" in the first account field.) View transaction list View journal entry worksheet X Debit Credit . 1 Record the amounts that increase cash. 2 Record the amounts that decrease cash
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