Journalize the adjusting entries at July

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Reference no: EM133122079

Question - The following information pertains to Wildhorse Company.

1. Cash balance per bank, July 31, $10,788.

2. July bank service charge not recorded by the depositor $62.

3. Cash balance per books, July 31, $10,912.

4. Deposits in transit, July 31, $4,402.

5. $2,480 collected for Wildhorse Company in July by the bank through electronic funds transfer. The accounts receivable collection has not been recorded by Wildhorse Company.

6. Outstanding checks, July 31, $1,860.

Required -

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

b) Journalize the adjusting entries at July 31 on the books of Wildhorse Company. Credit account titles are automatically indented when amount is entered.

Reference no: EM133122079

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