The ending cash balance per the books was $16,673 on July 31,2008. The only chec
ID: 2458199 • Letter: T
Question
The ending cash balance per the books was $16,673 on July 31,2008. The only check outstanding from the prior month’sbank statement was check # 2874 for $1,210. During the month,the company records show that the following checkswere written and deposits made:
COMPANY BOOKS
---------ChecksWritten------- ---------Deposits Made---
date check #description Amount date Amount
7/05 2905 (utilityexp) $ 270.00 7/07 $4,340
7/09 2906 (rentexp) 3,850.00 7/27 7,720
7/21 2907 (supplyexp) 460.00 7/31 2,090
7/23 2908 (payrollexp) 1,530.00
7/24 2909 (travelexp) 725.00
7/29 2910 (postageexp) 340.00
BANK STATEMENT
The bank statement dated July 31, 2008, gavethe following information. Assume that all amounts on the bankstatement are correct.
Debits Credits
7/01/08 BeginningBalance $10,908
7/01/08 Interestearned 295
7/03/08 #2874 1210
7/07/08 Deposit 4,340
7/11/08 #2906 3,850
7/15/08 #2905 170
7/25/08 #2909 725
7/27/08 Deposit 7,270
7/29/08 #2908 1,350
7/30/08 NSF check#109 500
7/30/08 ServiceCharge 12
7/31/08 EndingBalance $14,996
Required:
A. Do the Bank Reconciliation
B. Do the journal entries necessary
Explanation / Answer
The ending cash balance per the books was $16,673 on July 31,2008. The only chec
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