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Prepare the bank reconciliation as of July 31.
On July 31, 2014, Redeker Company had a cash balance per books of $6,304. The statement from Nashotah State Bank on that date showed a balance of $7,854.80. A comparison of the bank statement with the Cash account revealed the following facts.
1.
The bank service charge for July was $18.
2.
The bank collected a note receivable of $1,670 for Redeker Company on July 15, plus $37 of interest. The bank made a $17 charge for the collection. Redeker has not accrued any interest on the note.
3.
The July 31 receipts of $1,370.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31.
4.
Company check No. 2480 issued to T. Laird, a creditor, for $354.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $345.00.
5.
Checks outstanding on July 31 totaled $2,003.10.
6.
On July 31, the bank statement showed an NSF charge of $745 for a check received by the company from K. Wagner, a customer, on an account.
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