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.