The following information applies to the questions displayed below The following information is available to reconcile Branch Companys book balance of cash with its bank statement cash balance as of July 31, 2015 a On July 31, the companys Cash account has a $25,644 debit balance, but its July bank statement shows a $27,322 cash balance b Check No 3031 for $1,260 and Check No 3040 for $622 were outstanding on the June 30 bank reconciliation Check No 3040 is listed with the July canceled checks, but Check No 3031 is not Also, Check No 3065 for $406 and Check No 3069 for $2,028, both written in July, are not among the canceled checks on the July 31 statement c In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that Check No 3056 for July rent was correctly written and drawn for $1,250 but was erroneously entered in the accounting records as $1,240 d A credit memorandum enclosed with the July bank statement indicates the bank collected $7,500 cash on a non interest bearing note for Branch, deducted a $38 collection fee, and credited the remainder to its account Branch had not recorded this event before receiving the statement e A debit memorandum for $805 lists a $795 NSF check plus a $10 NSF charge The check had been received from a customer, Evan Shaw Branch has not yet recorded this check as NSF f Enclosed with the July statement is a $11 debit memorandum for bank services It has not yet been recorded because no previous notification had been received g Branchs July 31 daily cash receipts of $8,652 were placed in the banks night depository on that date but do not appear on the July 31 bank statement Required 1 Prepare the bank reconciliation for this company as of July 31, 2015 2 Prepare the journal entries necessary to bring the companys book balance of cash into conformity with the reconciled cash balance as of July 31, 2015 (If no entry is required for a transaction event, select No journal entry required in the first account field )

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[The following information applies to the questions displayed below.]

The following information is available to reconcile Branch Companys book balance of cash with its bank statement cash balance as of July 31, 2015.

a.	On July 31, the companys Cash account has a $25,644 debit balance, but its July bank statement shows a $27,322 cash balance.
b.	Check No. 3031 for $1,260 and Check No. 3040 for $622 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is not. Also, Check No. 3065 for $406 and Check No. 3069 for $2,028, both written in July, are not among the canceled checks on the July 31 statement.
c.	In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that Check No. 3056 for July rent was correctly written and drawn for $1,250 but was erroneously entered in the accounting records as $1,240.
d.	A credit memorandum enclosed with the July bank statement indicates the bank collected $7,500 cash on a non-interest-bearing note for Branch, deducted a $38 collection fee, and credited the remainder to its account. Branch had not recorded this event before receiving the statement.
e.	A debit memorandum for $805 lists a $795 NSF check plus a $10 NSF charge. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF.
f.	Enclosed with the July statement is a $11 debit memorandum for bank services. It has not yet been recorded because no previous notification had been received.
g.	Branchs July 31 daily cash receipts of $8,652 were placed in the banks night depository on that date but do not appear on the July 31 bank statement.

Required:

Prepare the bank reconciliation for this company as of July 31, 2015.

2.	Prepare the journal entries necessary to bring the companys book balance of cash into conformity with the reconciled cash balance as of July 31, 2015. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. )