Jossica Corp. used the following information in recording itn bank reconcilistion for the month of JulyBalance per books July 31$ 25,312Balance per bank statement July 31$ 26,772(1)Checks written in July but still outstanding $3,650.(2)Deposits of July 31 not yet recorded by bank $2,820.(3)Check No. 705 for $350 was correctly issued and paid by bank but was recorded as $530 in the cash payments journal.(4)Bank commission charge for July was $82.(5)The bank collected a note receivable for the company of $1,600 plus $117 interest revenue.(6)NSF check of customer returned by bank $285.(7)Jessica deposited $2,150 into the bank and properly recorded it in Cash at Bank accounts but the bank credited this amount for only $1,250.InstructionsPrepare a bank reconciliation at July 31.

Bank reconciliation statement: Bank reconciliation statement is a statement drafted to match the…

irang ils bank reconciliation for the month of July Balance per books July 31 S 25,312 Balance per bank statement July 31 $ 26,772 Checks written in July but still outstanding $3,650. Deposits of July 31 not yet recorded by bank $2,820. Check No. 705 for $350 was correctly issued and paid by bank but was recorded as $530 in the cash payments journal. Bank commission charge for July was $82. The bank collected a note receivable for the company of $1,600 plus $117 interest revenue. NSF check of customer returned by bank $285. Jessica deposited $2,150 into the bank and properly recorded it in Cash at Bank accounts but the bank credited this amount cructions nare a bank reconciliation at July 31.

irang ils bank reconciliation for the month of July Balance per books July 31 S 25,312 Balance per bank statement July 31 $ 26,772 Checks written in July but still outstanding $3,650. Deposits of July 31 not yet recorded by bank $2,820. Check No. 705 for $350 was correctly issued and paid by bank but was recorded as $530 in the cash payments journal. Bank commission charge for July was $82. The bank collected a note receivable for the company of $1,600 plus $117 interest revenue. NSF check of customer returned by bank $285. Jessica deposited $2,150 into the bank and properly recorded it in Cash at Bank accounts but the bank credited this amount cructions nare a bank reconciliation at July 31.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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PREPARE A BOOK TO BANK STATEMENT