Haverman Company maintains a checking account at the Commerce Bank. At July 31,

Question

Haverman Company maintains a checking account at the Commerce Bank. At July 31, selected data from the ledger balance and the bank statement are shown below.

Cash in Bank
Per Books Per Bank
Balance, July 1 $26,344 $25,146
July receipts 121,840
July credits 123,441
July disbursements 115,478
July debits 111,895
Balance, July 31 $32,706 $36,692
Analysis of the bank data reveals that the credits consist of $118,247 of July deposits and a credit memorandum of $5,194 for the collection of a $5,089 note plus interest revenue of $105.The July debits per bank consist of checks cleared $111,811 and a debit memorandum of $84 for printing additional company checks.
You also discover the following errors involving July checks: (1) A check for $344 to a creditor on account that cleared the bank in July was journalized and posted as $479. (2) A salary check to an employee for $382 was recorded by the bank for $232.
The June 30 bank reconciliation contained only two reconciling items: deposits in transit $10,478 and outstanding checks of $9,280.





Prepare a bank reconciliation at July 31. (List amounts from largest to smallest eg 10, 5, 3, 2.)
$

Add:



Less: $




Adjusted cash balance per bank $


$

Add: $






Less:

Adjusted cash balance per books $







Journalize the adjusting entries to be made by Haverman Company at July 31, 2010. Assume that the interest on the note has been accrued. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.)
Date Description/Account Debit Credit
July 31





(To record collection of note receivable by bank.)
July 31



(To record check printing charge.)
July 31



(To record error on check.)

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