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The cash records and bank statement for the month of July for Jamestown, Incorporated are shown below. DEP Customer deposit INT Interest earned SF Service
The cash records and bank statement for the month of July for Jamestown, Incorporated are shown below. DEP Customer deposit INT Interest earned SF Service fees NOTE Note collected CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer Additional information: a. The difference in the beginning balances in the company's records and the bank statement relates to check #530, which was outstanding as of June 30,2024. b. Check #533 is correctly processed by the bank. c. The EFT on July 26 relates to the purchase of office supplies. Required: 1. Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. 2. Record the necessary entry(ies) to adjust the balance for cash. Complete this question by entering your answers in the tabs below. 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.) a. The difference in the beginning balances in the company's records and the bank statement relates to check #530, which was outstanding as of June 30,2024. b. Check #533 is correctly processed by the bank. c. The EFT on July 26 relates to the purchase of office supplies. Required: 1. Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. 2. Record the necessary entry(ies) to adjust the balance for cash. Complete this question by entering your answers in the tabs below. 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.)
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