The following information is available to reconcile Chevrolet Corporations book balance of cash with its bank statement as of July 31, 2020.

a. On July 31, the companys Cash account has a Php 6,140 debit balance, but its July Bank statement shows a Php 7,690.80 cash balance.

b. The bank service charge for July was Php 25.

c. The bank collected Php 1,250 for Chevrolet through electronic funds transfer.

d. The July 31 receipts of Php 1,193.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31.

e. Chevrolet check No.2480 issued to Mazda, a creditor, for Php 384 that cleared the bank in July was incorrectly entered as a cash payment on July 10 for Php 348.

f. Checks outstanding on July 31 totaled Php 1,860.10

g. On July 31, the bank statement showed an NSF charge of Php 575 for a check received by the company from Toyota, a customer, on account.

Required:

Prepare Chevrolets bank reconciliation dated July 31, 2020. (10 pts) 2. Provide journal entries to update the companys general ledger balances. (5pts)