The following information pertains to Crane Video Company:

1. Cash balance per bank, July 31, $7,263.

2. July bank service charge not recorded by the depositor $28.

3. Cash balance per books, July 31, $7,284.

4. Deposits in transit, July 31, $1,300.

5. Bank collected $700 note for Crane in July, plus interest $36, less fee $20. The collection has not been recorded by Crane, and no interest has been accrued.

6. Outstanding checks, July 31, $591.

A. Prepare a bank reconciliation at July 31.

B. Journalize the adjusting entries at July 31 on the books of Crane Video Company.

Date	Receipt No.	For	Amount
5-Mar	1	Stamp Inventory	$39
7	2	Freight-Out	21
9	3	Miscellaneous Expense	6
11	4	Travel Expense	24
14	5	Miscellaneous Expense	5

E7-8		Page 369
Date	Account Titles				Debit	Credit
Mar. 1
15
20

E7-11 (a)		Page 370
Crane Video Company
Bank Reconciliation
July 31
(b)
Date	Account Titles				Debit	Credit
July 31
31