Solution-Prepare the bank reconciliation as of July

Prepare the bank reconciliation as of July

Reference no: EM132891566

Question - On July 31, 2022, Blue Spruce Company had a cash balance per books of $6,340.00. The statement from Dakota State Bank on that date showed a balance of $7,890.80. A comparison of the bank statement with the Cash account revealed the following facts.

1. The bank service charge for July was $21.00.

2. The bank collected $1,720.00 for Blue Spruce through electronic funds transfer.

3. The July 31 cash receipts of $1,397.30 were not included in the bank statement for July. These receipts were deposited by the company in a night deposit vault on July 31.

4. Company check No. 2480 issued to L. Taylor, a creditor, for $374.00 that cleared the bank in July was incorrectly recorded as a cash payment on July 10 for $347.00.

5. Checks outstanding on July 31 totaled $2,051.10.6.On July 31, the bank statement showed an NSF charge of $775.00 for a check received by the company from W. Krueger, a customer, on account.

Required - Prepare the bank reconciliation as of July 31?

Reference no: EM132891566

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Prepare the bank reconciliation as of July

Reference no: EM132891566

Reference no: EM132891566

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