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PR 8-3B. Bank Reconciliation and Entries The cash account for Stone Systems at July 31 indicated a balance of $17,750. The bank statement indicated a

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PR 8-3B. Bank Reconciliation and Entries The cash account for Stone Systems at July 31 indicated a balance of $17,750. The bank statement indicated a balance of $33,650 on July 31. Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items: 1. Checks outstanding totaled $17,865. 2. A deposit of $9,150, representing receipts of July 31, had been made too late to appear on the bank statement 3. The bank had collected $6,095 on a note left for collection. The face of the note was $3,750. 4. A check for $390 returned with the statement had been incorrectly recorded by Stone Systems as $930. The check was for the payment of an obligation to Holland Co. for the purchase of office supplies on account 5. A check drawn for $1,810 had been incorrectly charged by the bank as $1,180. 6. Bank service charges for July amounted to $80. Instructions 1. Prepare a bank reconciliation. 2. Journalize the necessary entries in good format). The accounts have not been closed. 3. If a balance sheet is prepared for Stone Systems on July 31, what amount should be reported as cash? Cash Balance per Bank Statement ADD: LESS: Adjusted Cash Balance per Bank Statement Cash Balance per Books (General Ledger or Checkbook) ADD: LESS: Adjusted Cash Balance per Books (General Ledger/Checkbook) Problem 8-3B, Part 2 GENERAL JOURNAL Date Account Debit Credit Problem 8-3B, Part 3 Cash balance that would appear in the July 31 balance sheet

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