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The following information is for Dylex Corporation: a. Balance per the bank statement dated July 31, 2014 is $29,050. b. Balance of the Cash account
The following information is for Dylex Corporation: a. Balance per the bank statement dated July 31, 2014 is $29,050. b. Balance of the Cash account on the company books as of July 31, 2014 is $15,555 c. Bank service charges for the month amount to $30. d. Included with the bank statement was a $25 credit memorandum for interest earned on the bank account during the month. e. Bank deposit on July 31, 2014 for $1,400 does not appear on the bank statement f. Cheque #391, for office supplies in the amount of $924, was recorded in the Cash Disbursements Journal incorrectly as $9,924 g. Included with the bank statement was an NSF cheque for $700 that had been received from a customer in payment of his account h. Cheques written that had not cleared the bank by July 31, 2014 were #412: $1,400 #401 $1,450 #402 $1,200 #400: $1,350 #415 $1,200 Prepare a bank reconciliation statement as of July 31, 2014, as well as the necessary adjusting journal entries Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie., January 15 would be 15/Jan) Bank statement balance Add: Dylex Corporation Bank Reconciliation July 31,20141 Book balance Add Deduct Outstanding cheques: Adjusted bank balance Deduct Adjusted book balance
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