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The following information pertains to Terry's Pest Control Company (TPCC) for July: 1. The unadjusted bank balance at July 31 was $1,050. 2. The bank
The following information pertains to Terry's Pest Control Company (TPCC) for July: 1. The unadjusted bank balance at July 31 was $1,050. 2. The bank statement included the following items: (a) A $50 credit memo for interest earned by TPCC. (b) A $280 NSF check made payable to TPCC. (c) A $200 debit memo for bank service charges. 3. The unadjusted book balance at July 31 was $1,760. 4. A comparison of the bank statement with company accounting records disclosed the following: (a) A $580 deposit in transit at July 31 . (b) Outstanding checks totaling $300 at the end of the month. Required Prepare a bank reconciliation. (Negative amounts should be indicated with minus sign.)
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