The July cash records of Fitzgerald, Inc., follow:

Fitzgerald€™s Cash account shows the balance of $6,078 on July 31. On July 31, Fitzgerald received the following bank statement:

Additional data for the bank reconciliation:
a. The EFT deposit was a receipt of rent revenue. The EFT debit was payment of insurance expense.
b. The NSF check was received from a customer.
c. The $1,300 bank collection was for a note receivable.
d. The correct amount of check number 1419 is $218. Fitzgerald, Inc., mistakenly recorded the check for $128.

Requirement
1. Prepare Fitzgerald, Inc.€™s bank reconciliation on July31.

Transcribed Image Text:

Cash Receipts (CR) Date Cash Payments (CP) Check No Cash Debit Cash Credit $2,739 533 856 353 2,023 1416 1417 1418 1419 1420 1421 1422 $ 12 775 91 14 17 31 985 215 2,265 Bank Statement for Ju Beginning Balance Deposits and other additions: ly $ 4,045 Jul 1 S 650 EFT 2,739 10 15 18 31 533 856 353 1,300 BC 6,431 Checks and other deductions: S 452 NSF 12 Jul 8 15 (Check no. 1416) 19 22 (Check no.1417) 29 (Check no. 1418) 31 (Check no. 1419) 31 350 EFT 775 91 218 20 SC (1,918 Ending Balance