The following information is available to reconcile Branch Companys book balance of cash with its bank statement cash balance as of July 31 On July 31, the companys Cash account has a $25,337 debit balance, but its July bank statement shows a $27,076 cash balance Check No 3031 for $1,260, Check No 3065 for $406, and Check No 3069 for $2,028 are outstanding checks as of July 31 Check No 3056 for July rent expense was correctly written and drawn for $1,220 but was erroneously entered in the accounting records as $1,210 The July bank statement shows the bank collected $5,000 cash on a note for Branch Branch had not recorded this event before receiving the statement The bank statement shows an $805 NSF check The check had been received from a customer, Evan Shaw Branch has not yet recorded this check as NSF The July statement shows a $8 bank service charge It has not yet been recorded in miscellaneous expenses because no previous notification had been received Branchs July 31 daily cash receipts of $6,132 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 2 Prepare the journal entries necessary to make the companys book balance of cash equal to the reconciled cash balance as of July 31 (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 is available to reconcile Branch Companys book balance of cash with its bank statement cash balance as of July 31. On July

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

On July 31, the companys Cash account has a $25,337 debit balance, but its July bank statement shows a $27,076 cash balance.
Check No. 3031 for $1,260, Check No. 3065 for $406, and Check No. 3069 for $2,028 are outstanding checks as of July 31.
Check No. 3056 for July rent expense was correctly written and drawn for $1,220 but was erroneously entered in the accounting records as $1,210.
The July bank statement shows the bank collected $5,000 cash on a note for Branch. Branch had not recorded this event before receiving the statement.
The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF.
The July statement shows a $8 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received.
Branchs July 31 daily cash receipts of $6,132 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.

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