The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31, 2017 a. On July 31, the company's Cash account has a $25,860 debit balance, but its July bank statement shows a $26,891 cash balance. b. Check No. 3031 for $1,000 and Check No. 3040 for $492 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 $276 and Check No. 3069 for $1,768, 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 expense was correctly written and drawn for $1,270 but was erroneously entered in the accounting records as $1,260. d. The July bank statement shows the bank collected $7,000 cash on a noninterest-bearing note for Branch, deducted a $35 collection expense, and credited the remainder to its account. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 charge for 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. The July statement shows a $11 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received. g. Branch's July 31 daily cash receipts of $8,152 were placed in the bank's 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, 2017 BRANCH COMPANY Bank Reconciliation Required: 1. Prepare the bank reconciliation for this company as of July 31, 2017, BRANCH COMPANY Bank Reconciliation July 31, 2017 Book balance Bank statement balance Add Add: Adjusted bank balance Adjusted book balance 2. Prepare the journal entries necessary to bring the company's book balance of cash into conformity with the reconciled cash balance as of July 31, 2017. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Record the adjusting entry required, if any, related to the July 31 cash balance Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal D... Topic: Discussion 4 Gather Research D. Untitled document - Google Docs Business 1A Sec H01 (22634) Fall 20... 5) A Saved Help 2. Prepare the journal entries necessary to bring the company's book balance of cash into conformity with the recon as of July 31, 2017. (If no entry is required for a transaction/event, select "No journal entry required" in the first acc View transaction list Journal entry worksheet Record the adjusting entry required, if any, related to the outstanding checks. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record entry Clear entry View general journal Prepare the journal entries necessary to bring the company's book balance of cash into conformity with the reco of July 31, 2017. (If no entry is required for a transaction/event, select "No journal entry required" in the first a View transaction list Journal entry worksheet Prepare the journal entries necessary to bring the company's book balance of cash into conformity with t 5 of July 31, 2017. (If no entry is required for a transaction/event, select "No journal entry required in the View transaction list Journal entry worksheet Wiew transaction list Journal entry worksheet Record the adjusting entry required, if any, related to the NSF check. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 2. Prepare the journal entries necessary to bring the company's book balance of cash into conformity with the recor as of July 31, 2017. (If no entry is required for a transaction/event, select "No journal entry required in the first ac View transaction list Journal entry worksheet
