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Prepare bank reconciliation at July

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Reference no: EM132599887

Question - The following information pertains to Pharoah Company.

1. Cash balance per bank, July 31, $8,138.

2. July bank service charge not recorded by the depositor $56.

3. Cash balance per books, July 31, $8,174.

4. Deposits in transit, July 31, $3,510.

5. $2,826 collected for Pharoah Company in July by the bank through electronic funds transfer. The collection has not been recorded by Pharoah Company.

6. Outstanding checks, July 31, $704.

Required - Prepare bank reconciliation at July 31, 2017.

Reference no: EM132599887

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