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RoseWind [281]
3 years ago
7

Cash balance per bank, July 31, $8,238. 2. July bank service charge not recorded by the depositor $58. 3. Cash balance per books

, July 31, $8,274. 4. Deposits in transit, July 31, $3,610. 5. $2,926 collected for Sunland Company in July by the bank through electronic funds transfer. The collection has not been recorded by Sunland Company. 6. Outstanding checks, July 31, $706
a. Prepare a bank reconciliation on July 31, 2017.
b. Journalize the adjusting entries for Sunland Company.
Business
1 answer:
IgorLugansk [536]3 years ago
4 0

Answer:

the adjusted cash balance is $ 11,142

service charge expense 58 debit

cash                             2868 debit

    accounts receivables        2926 credit

--to record bank reconciliation--

Explanation:

CASH

Balance               8274

Service Charge  -58

collection  <u>     2926</u>

Adjusted Balance 11,142

BANK

Balance                       8238

Outstanding Check -706

Deposit in transit     <u>    3610</u>

Adjusted Balance      11,142

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