statement, the canceled checks, and the accompanyins $=$PR $8-4$B

Bank reconciliation

and entries

obj. $5$

Adjusted

balance: $$9,360$

The cash account for Inky's Bike Co$.$ at July $1,2010,$ indicated a balance of $$12,470.$

During July, the total cash deposited was $$26,680,$ and checks written totaled $$31,500.$

The bank statement indicated a balance of $$16,750$ on July $31.$ Comparing the bank

statement, the canceled checks, and the accompanying memos with the records revealed

the following reconciling items:

a$.$ Checks outstanding totaled $$12,850.$

b$.$ A deposit of $$5,100,$ representing receipts of July $31,$ had been made too late to ap$-$

pear on the bank statement.

c$.$ The bank had collected for Inky's Bike Co$.$ $$2,675$ on a note left for collection. The

face of the note was $$2,500.$

d$.$ A check for $$370$ returned with the statement had been incorrectly charged by the

bank as $$730.$

e$.$ A check for $$320$ returned with the statement had been recorded by Inky's Bike Co$.$

as $$230.$ The check was for the payment of an obligation to Ranchwood Co$.$ on ac$-$

count.

f$.$ Bank service charges for July amounted to $$25.$

g$.$ A check for $$850$ from Hallock Co$.$ was returned by the bank because of insufficient

funds.

Instructions

Prepare a bank reconciliation as of Juily $31.$

Journalize the necessary entries. The accounts have not been closed.

the following reconciling items:

a$.$ Checks outstanding totaled $$12,850.$

pear on the bank statement.

face of the note was $$2,500.$

d$.$ A check for $$370$ returned with the statement had been incorrectly charned by the

bank as $$730.$

e$.$ A check for $$320$ returned with the statement had been recorded by inky, Bise $Cs$

as $$230.$ The check was for the payment of an obligation to Ranchwood Ce on as

count.

f$.$ Bank service charges for July amounted to $$25.$

funds.

Instructions

Prepare a bank reconciliation as offuly $31$

Journalize the necessary entries. The accounts have not bern when