The following information pertains to Sunland Company.

1.		Cash balance per books, August 31, $7,424.
2.		Cash balance per bank, August 31, $7,388.
3.		Outstanding checks, August 31, $695.
4.		August bank service charge not recorded by the depositor $47.
5.		Deposits in transit, August 31, $3,060.

In addition, $2,376 collected for Sunland Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Sunland Company.

(a)

Partially correct answer icon

Your answer is partially correct.

Prepare a bank reconciliation at August 31, 2022. (List items that increase balance as per bank & books first.)

SUNLAND COMPANY Bank Reconciliation Choose the accounting period August 31, 2022For the Month Ended August 31, 2022For the Year Ended August 31, 2022
Select an opening section 1 name Cash balance per bank statementBank service chargeCollection on electronic funds transferOutstanding checksAdjusted cash balance per bankDeposits in transit			$Enter a dollar amount
Select between addition and deduction AddLess:	Select a reconciling item Collection on electronic funds transferDeposits in transitBank service chargeAdjusted cash balance per bankCash balance per bank statementOutstanding checks		Enter a dollar amount
			Enter a subtotal of the two previous amounts
Select between addition and deduction LessAdd:	Select a reconciling item Bank service chargeOutstanding checksDeposits in transitCash balance per bank statementCollection on electronic funds transferAdjusted cash balance per bank		Enter a dollar amount
Select a closing section 1 name Cash balance per bank statementDeposits in transitOutstanding checksCollection on electronic funds transferBank service chargeAdjusted cash balance per bank			$Enter a total amount for section one
Select an opening section 2 name Adjusted cash balance per booksDeposits in transitOutstanding checksCash balance per booksCollection on electronic funds transferBank service charge			$Enter a dollar amount
Select between addition and deduction AddLess:	Select a reconciling item Bank service chargeOutstanding checksCash balance per booksAdjusted cash balance per booksCollection on electronic funds transferDeposits in transit		Enter a dollar amount
			Enter a subtotal of the two previous amounts
Select between addition and deduction AddLess:	Select a reconciling item Collection on electronic funds transferDeposits in transitBank service chargeAdjusted cash balance per booksOutstanding checksCash balance per books		Enter a dollar amount
Select a closing section 2 name Deposits in transitOutstanding checksCollection on electronic funds transferCash balance per booksAdjusted cash balance per booksBank service charge			$Enter a total amount for section two