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4 years ago

The following information pertains to Sunland Company.

Business

1 answer:

Roman55 [17]4 years ago

3 0

Answer:

A. Adjusted cash balance per bank $10,053

Adjusted cash balance per book $ 10,053

B. July 31

Dr Cash $ 2,376

Cr Accounts Receivable $ 2,376

July 31

Dr Bank service charge $47

Cr Cash $ 47

Explanation:

Preparation of Bank Reconciliation

31-Jul-22

SUNLAND COMPANY

Cash Balance per bank statement $7,688

Add: Deposit in transit $ 3,060

$ 10,748

Less: Outstanding checks $ 695

Adjusted cash balance per bank $ 10,053

Cash balance per books $ 7,724

Add: Electronic fund transfer received $2,376

$10,100

less; Bank service charge $ 47

Adjusted cash balance per books $10,053

B. Preparation of Journal entry

July 31

Dr Cash $ 2,376

Cr Accounts Receivable $ 2,376

(To record electronic fund transfer received by bank)

July 31

Dr Bank service charge $ 47

Cr Cash $ 47

(To record bank service charges )

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