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uestlon: The following data has been gathered for Reynolds Company to assist you in preparing the July 31, 2020 bank reconciliation: a] The July 31
uestlon: The following data has been gathered for Reynolds Company to assist you in preparing the July 31, 2020 bank reconciliation: a] The July 31 bank balance was 54,000. b) The bank statement Included $30 of service charges. c) There was an EFI' deposit of $900 on the bank statement for the monthly rent revenue due from a tenant. d) Cheques #541 and #543 for $205 and 5320, respectively. were not among the cancelled cheques returned with the statement. e) The July 31 deposit of $4,435 did not appear on the bank statement. f) The bookkeeper had erroneously recorded Cheque 362 as $5,000 when the actual correct amount on the cheque was $500. The cheque was written to a Smith Company to pay off an accounts payable. g} Included with the cancelled cheques was a cheque written by another company for $200, which was deducted from Reynolds Company's account. h] The bank statement included an NSF cheque written by Maxie Company for a $460 payment on account. i} The cash account showed a balance of $3,200 on July 31. Euired: a] Prepare the July 31, 2020. bank reconciliation for Reynolds Company. b) Jo urnalize {in proper format) any required entries from the bank reconciliation. c] Post the entries to the Cash T-Account to verify the balance of the account matches the Adjusted Book Balance from the bank reconciliation in Part A
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