The following information pertains to the Cash account of Nakamoto Corporation for the month of July 2016: Bank Statement Balance July 31 Service charge (Miscellaneous expense) for July NSF check returned with July bank statement Note receivable collected by bank (not previously recorded on the books) Interest on note collected by bank (not previously recorded on the books) $22,639.54 15.00 84.50 2,000.00 60.00 Books Balance July 31 Cash on hand awaiting deposit Outstanding checks #257 #271 #272 Deposit in transit 1,824.42 $42.17 120.19 80.82 $2,420.98 Required: 1. Prepare a bank recondiliation to determine Nakamoto's adjusted cash balance on July 31 2. Next Level Determine Nakamoto's unadjusted cash balance (per books) on July 31. 3. Prepare the adjusting entries necessary to bring Nakamoto's cash account balance up to date on July 31. Chart of Accounts CHART OF ACCOUNTS Nakamoto Corporation General Ledger ASSETS REVENUE 411 Sales Revenue 431 Interest Income 111 Cash 121 Accounts Receivable 125 Notes Receivable 141 Inventory 152 Prepaid Insurance 181 Equipment 198 Accumulated Depreciation EXPENSES 500 Cost of Goods Sold 511 Insurance Expense 512 Utilities Expense 521 Salaries Expense 532 Bad Debt Expense 540 Interest Expense 541 Depreciation Expense 559 Miscellaneous Expenses LIABILITIES 211 Accounts Payable 231 Salaries Payable 250 Unearned Revenue Expense 231 Salaries Payable 250 Unearned Revenue 261 Income Taxes Payable 541 Depreciation 559 Miscellaneous Expenses 910 Income Tax Expense EQUITY 311 Common Stock 331 Retained Earnings abels and Amount Descriptions Labels Outstanding checks Amount Descriptions Ck257 Ck271 Ck272 Adjusted cash balance Cash on hand awaiting deposit Deposit in transit Interest on note receivable Note collected by bank NSF checks Service charge (Miscellaneous expense) General Journal Prepare the adjusting entries necessary to bring Nakamoto's cash account balance up to date on July 31. Additional Instructions PAGE8 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF DEBIT CREDIT Bank Reconciliation Prepare a bank reconciliation to determine Nakamoto's adjusted cash balance on July 31. Additional Instructions Nakamoto Corporation Bank Reconciliation July 31,2016 1Balance from bank statement 2 Add: 7Deduct: 8 (Label) 10 12 13 Adjusted cash balance 14 15 Balance from company records eBook Calculator 12 3 Adjusted cash balance 14 15 Balance from company records 16 Add 17 18 19 20 21 Deduct: 25 24 25 Adjusted cash balance Next Level Determine Nakamoto's unadjusted cash balance (per books) on July 31 Nakamoto's unadjusted cash balance (per books) on July 31 is
