The following information pertains toBest Goods Company.

1.Cash balance per books, August 31, $7,424.2.Cash balance per bank, August 31, $7,388.3.Outstanding checks, August 31, $691.4.August bank service charge not recorded by the depositor $43.5.Deposits in transit, August 31, $2,860.

In addition, $2,176collected forBest Goods Companyin August by the bank through electronic funds transfer. The accounts receivable collection has not been recordedBest Goods Company.

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

Journalize the adjusting entries at August 31 on the books ofBest Goods Company.

DR/CR