The cash transactions and cash balances of Banner, Inc. for July were as follows. 1. Banner, Inc.'s account for Cash showed a balance at July 31 of $125,568 2. The July bank statement showed a closing balance of $114,828 a. The cash received on July 31 amounted to $15,000. It was left at the bank in the night depository chute after banking hours on my 31 and therefore was not recorded by the bank on the fuly statement 4. Also included with the July bank statement was a debit memorandum from the bank for $50 representing service charges for 5. A credit memorandum enclosed with the Joly bank statement indicated that a non-interest bearing note receivable for $4.000 from Rene Manes, left with the bank for collection had been collected and the proceeds credited to the account of Banner, Inc 6. Comparison of the paid checks returned by the bank with the entries in the accounting records revealed that check no B21 for $519. issued July 15 in payment for office equipment, had been erroneously entered in Banner's records as $915 7. Examination of the paid checks also revealed that three checks, all issued in July, had not yet been paid by the bank no. 81 for $314, no. 814 for $625; and no. 823 for $175. 8. Included with the July bank statement was a $200 check drawn by Howard Williams, a customer of Banner, Inc. This check was marked NSF. It had been included in the deposit of July 27 but had been charged back against the company's account on July 31 Required: a. Prepare a bank reconciliation for Banner, Inc., at July 31. b. Prepare journal entries in general journal form) to adjust the accounts at July at Assume that the accounts have not been closed. Complete this question by entering your answers in the tabs below. Required A Required Prepare a bank reconciliation for Banner, Inc., at July 31. BANNER, INC Bank Reconciliation July 31 Adjusted cash bilan Addons Check No 121 for office equipment Recorded as Actual amount Deductions: Adjusted cash balance Required) 1. Bonne Inc.'s account for Cash showed a balance at July 31 of $125,568 2. The July bank statement showed a closing balance of S114,828. 3. The cash received on July 31 amounted to $16,000. It was left at the bank in the night depository chute after banking hours on July 31 and therefore was not recorded by the bank on the July statement 4. Also included with the July bank statement was a debit memorandum from the bank for $50 representing service charges for July 5. A credit memorandum enclosed with the July bank statement indicated that a non-interest bearing note receivable for $4.000 from Rene Manes, left with the bank for collection, had been collected and the proceeds credited to the account of Banner, Inc. 6. Comparison of the paid checks returned by the bank with the entries in the accounting records revealed that check na 821 for $519, Issued July 15 in payment for office equipment, had been erroneously entered in Bonner's records as $915 7. Examination of the paid checks also revealed that three checoll issued in July, had not yet been paid by the bank no for $314; no 814 for $625, and no. 823 for $175 B. Included with the July bank statement was a $200 check drawn by Howard Williams, a customer of Banner, Inc. This check was marked NSF. It had been included in the deposit of July 27 but had been charged back against the company's account on July 31 Required: a. Prepare a bank reconciliation for Banner, Inc., at July 31, b. Prepare journal entries in general Journal form to adjust the accounts at July 31. Assume that the accounts have not been closed Complete this question by entering your answers in the tabe below Required A Required Prepare journal entries in general Journal form) to adjust the accounts July 31. Assume that the accounts have not been closed. the entry is required for a transaction event, select "Ne journal entry required in the first accounted) View transactionist Journal entry worksheet
