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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

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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 or $125,568 2. The July bank statement strowed a closing balance of $114,828 3. The cash recetved on July 31 amourted to $16,000 it was left at the bank in the night deposatory chute affer banking nours on July 31 and therefore was not recorded by the bank on the July statement: 4. Aso included with the July bank statement was a debit memorandum from the bank for $50 representing semice charges for July 5. A credit memorandum enclosed with the July bank statement indicated that a non-interest bearing note fecelvabie 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 821 for $549 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 ho 811 for $314, no. 814 for $625; and no. 823 for $175 8. Included with the July bank statement wos a $200 check drawn by Howard Willams, a customer of Bonner, Inc Thus cieck was marked NSF it fad been included in the deposa of July 27 but had been charged back agoinst the company saccount on fuly at Required: a. Prepare a bank reconcilation for Banner, inc, at July 3t b. Prepare foumal entries pin general journal form) to adjust the accounts of July 31 . Assume that the occounts have hot been closed

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