US Kimmel, Financial Accounting, Be CES Exercise 7-8 The following information pertains to Lance Company. 1. Cash balance per bank, July 31, $7,328. 2. July bank service charge not recorded by the depositor $38. 3. Cash balance per books, July 31, $7,364. 4. Deposits in transit, July 31, $2,700- tudy 5. 6 $2,016 collected for Lance Company in July by the bank through electronic funds transfer. The collection has not been recorded by Lance Company. Outstanding checks, July 31, $686. Your answer is partially correct. Try again. Prepare a bank reconciliation at July 31, 2017. (List items that increase balance as per bank & books first.) LANCE COMPANY Bank Reconciliation July 31, 2017 Cash balance per bank statement . 7328 Add Deposits in transit 270 10028 Less T Outstanding checks 686 Cash balance per bank statement 9342 Cash balance per books 7364 Add Electronic funds transfer received X Less SHOW LIST OF ACCOUNTSUS Kimmel, Financial Accounting, Be CES Exercise 7-8 The following information pertains to Lance Company. 1. Cash balance per bank, July 31, $7,328. 2. July bank service charge not recorded by the depositor $38. 3. Cash balance per books, July 31, $7,364. 4. Deposits in transit, July 31, $2,700- tudy 5. 6 $2,016 collected for Lance Company in July by the bank through electronic funds transfer. The collection has not been recorded by Lance Company. Outstanding checks, July 31, $686. Your answer is partially correct. Try again. Prepare a bank reconciliation at July 31, 2017. (List items that increase balance as per bank & books first.) LANCE COMPANY Bank Reconciliation July 31, 2017 Cash balance per bank statement . 7328 Add Deposits in transit 270 10028 Less T Outstanding checks 686 Cash balance per bank statement 9342 Cash balance per books 7364 Add Electronic funds transfer received X Less SHOW LIST OF ACCOUNTS