The following information is available for Park Valley Spa for July Year 1: BANK STATEMENT STATE BANK BOLTA VISTA, NV 10001 Park Valley Spa 10 Main Street Bolta Vista, NV 10001 Beginning balance 6/30/Year 1 Total deposits and other credits Total checks and other debits Ending balance 7/31/Year 1 Checks and Debits Check No. Amount 2350 $3,764 2351 1,642 2352 7,995 2354 1,396 2355 6,183 2357 1,498 DM 17 Account number 12-4567 July 31, Year 1 $ 9,960 29,813 22,495 17, 278 Deposits and Credits Date Amount July 1 $1,107 July 10 6,492 July 15 4,934 July 21 6,179 July 26 5,964 July 30 2,089 CM 3,048 The following is a list of checks and deposits recorded on the books of the Park Valley Spa for July Year 1: Date July 2 July 4 July 10 July 10 July 15 July 20 July 22 Check No. 2351 2352 2353 2354 2355 2356 2357 Amount of Check $1,642 7,995 2,892 1,396 6, 183 71 1,498 Date July 8 July 14 July 21 July 26 July 29 July 30 Amount of Deposit $6,492 4,934 6,179 5,964 2,089 3,550 Other Information 1. Check no. 2350 was outstanding from June. 2. The credit memo was for collection of notes receivable. 3. All checks were paid at the correct amount. 4. The debit memo was for printed checks. 5. The June 30 bank reconciliation showed a deposit in transit of $1,107. 6. The unadjusted Cash account balance at July 31 was $14,834. Required a. Prepare the bank reconciliation for Park Valley Spa at the end of July. b. Record in general journal form any necessary entries to the Cash account to adjust it to the true cash balance. Prepare the bank reconciliation for Park Valley Spa at the end of July. PARK VALLEY SPA Bank Reconciliation July 31, Year 1 Unadjusted Bank Balance, July 31, Year 1 0 $ 0 True Cash Balance, July 31, Year 1 Unadjusted Book Balance, July 31, Year 1 True Cash Balance, July 31, Year 1 $ 0 Journal entry worksheet A B > Record the collection of notes receivable. Note: Enter debits before credits. General Journal Debit Credit 1