The following information is for Wildhorse Ltd. in July:

1. Cash balance per bank, July 31, $10,880

2. Cash balance per books, July 31, $8,940

3. Bank service charge, $30

4. Deposits in transit, $2,043

5. Electronic receipts from customers in payment of their accounts, $1,120, not previously recorded by the company

6. Outstanding cheques, $2,443

7. Cheque #373 was correctly written in the amount of $490 but was incorrectly recorded by the companys bookkeeper as $940. The cheque was written for the purchase of office supplies.

Prepare the bank reconciliation at July 31.

Prepare any journal entries required from the reconciliation.

WILDHORSE LTD. Bank Reconciilation July 31