1.2.3.4.5.6.7.(a)Balance per bank, July 31, $8,508.July bank service charge not yet recorded by Sunland, $25.Balance per books, July 31, $8,886.Deposits in transit, July 31, $2,528.Electronic collection on account (EFT) from a customer, $1,687 not yet recorded by Sunland.Outstanding cheques, July 31, $888.Returned cheque from the deposit of a collection on account, $360, due to non-sufficient funds. Related ban$40. The charges will be added to the customer's account.-Your answer is partially correct.Prepare a bank reconciliation at July 31, 2025. (List items that increase balance as per bank & books first.)

Bank reconciliation statement is the one which is prepared by the entity for the purpose of…

Balance per bank, July 31, $8,508. July bank service charge not yet recorded by Sunland, $25. Balance per books, July 31, $8,886. Deposits in transit, July 31, $2,528. Electronic collection on account (EFT) from a customer, $1,687 not yet recorded by Sunland. Outstanding cheques, July 31, $888. 7. Returned cheque from the deposit of a collection on account, $360, due to non-sufficient funds. Related bar $40. The charges will be added to the customer's account. 1. 2. 3. 4. 5. 6. (a) - Your answer is partially correct. Prepare a bank reconciliation at July 31, 2025. (List items that increase balance as per bank & books first.)

Balance per bank, July 31, $8,508. July bank service charge not yet recorded by Sunland, $25. Balance per books, July 31, $8,886. Deposits in transit, July 31, $2,528. Electronic collection on account (EFT) from a customer, $1,687 not yet recorded by Sunland. Outstanding cheques, July 31, $888. 7. Returned cheque from the deposit of a collection on account, $360, due to non-sufficient funds. Related bar $40. The charges will be added to the customer's account. 1. 2. 3. 4. 5. 6. (a) - Your answer is partially correct. Prepare a bank reconciliation at July 31, 2025. (List items that increase balance as per bank & books first.)

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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