Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following information pertains to Pharoah Company 1. 2. 3 4. Cash balance per bank, July 31. 57,830. July bank service charge not recorded by
The following information pertains to Pharoah Company 1. 2. 3 4. Cash balance per bank, July 31. 57,830. July bank service charge not recorded by the depositor $45. Cash balance per books, July 31. 57.920. Deposits in transit, July 31, $3.195. $1,800 collected for Pharoah Company in July by the bank through electronic funds transfer. The accounts receivable collection has not been recorded by Pharoah Company Outstanding checks, July 31, 51.350. 5. 6. la PHAROAH COMPANY Bank Reconciliation July 31, 2022 Cash balance per bank statement 7830 Add Deposits in transit 3195 11025 Less Outstanding checks 1350 S 9675 Adjusted cash balance per bank $ 1920 Cash balance per books 1803 Electronic funds transfer received 789 9720 Less VE Bank service charge 45 i Adjusted cash balance per books A 9675 e Textbook and Media List of Accounts Attempts: 1 of 5 used (b) Journalize the adjusting entries at July 31 on the books of Pharoah Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 78F a 1.513 !! Date Account Titles and Explanation Debit Credit July 31 (To record electronic funds transfer received by bank) July 31 (To record bank service charge) e Textbook and Media List of Accounts Attempts: 0 of 5 used Submit Arower Sorte 78F a O EA ch
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started