Prepare a bank reconciliation at july 31

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Reference no: EM1314067

Preparation of bank reconciliation statement from the given information.

The following information pertains to DeVries Company.

1. Cash balance per bank, July 31, $7,328.
2. July bank service charge not recorded by the depositor $40.
3. Cash balance per books, July 31, $7,280.
4. Deposits in transit, July 31, $1,700.
5. Note for $1,000 collected for DeVries in July by the bank, plus interest $36 less fee $20. The collection has not been recorded by Allied, and no interest has been accrued.
6. Outstanding checks, July 31, $772.

Instructions

a) Prepare a bank reconciliation at July 31, 2007.
b) Journalize the adjusting entries at July 31 on the books of DeVries Company.

Reference no: EM1314067

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