Hathaway Company's general ledger shows a cash account balance of $23,320 on July 31, 2024. Cash sales of $1,876 for the last three days of the month have not yet been deposited. The bank statement dated July 31 shows bank service fees of $54 and an NSF check from a customer of $340. The bank processes all checks written by the company by July 31 and lists them on the bank statement, except for one check totaling $1,540. The bank statement shows a balance of $22,590 on July 31. Required: 1. Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. 2. Record the necessary entry(ies) to adjust the balance for cash. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) HATHAWAY COMPANY Bank Reconciliation. July 31, 2024
Hathaway Company's general ledger shows a cash account balance of $23,320 on July 31, 2024. Cash sales of $1,876 for the last three days of the month have not yet been deposited. The bank statement dated July 31 shows bank service fees of $54 and an NSF check from a customer of $340. The bank processes all checks written by the company by July 31 and lists them on the bank statement, except for one check totaling $1,540. The bank statement shows a balance of $22,590 on July 31. Required: 1. Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. 2. Record the necessary entry(ies) to adjust the balance for cash. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) HATHAWAY COMPANY Bank Reconciliation. July 31, 2024
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Journal entry worksheet
<
1
Record the amounts that increase cash.
Note: Enter debits before credits.
Date
July 31, 2024
Record entry
2
Show Transcribed Text
View transaction list
1
Journal entry worksheet
2
Date
July 31, 2024
Note: Enter debits before credits.
General Journal
Record entry
Clear entry
Record the amounts that decrease cash.
J
General Journal
Clear entry
Debit
Debit
Credit
View general journal
Credit
View general Journal

Transcribed Image Text:Hathaway Company's general ledger shows a cash account balance of $23,320 on July 31, 2024. Cash sales of $1,876 for the last
three days of the month have not yet been deposited. The bank statement dated July 31 shows bank service fees of $54 and an NSF
check from a customer of $340. The bank processes all checks written by the company by July 31 and lists them on the bank
statement, except for one check totaling $1,540. The bank statement shows a balance of $22,590 on July 31.
Required:
1. Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024.
2. Record the necessary entry(ies) to adjust the balance for cash.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. (Amounts to be deducted should be i
indicated with a minus sign.)
Bank's Cash Balance
Per bank statement
Bank balance per reconciliation
HATHAWAY COMPANY
Bank Reconciliation.
July 31, 2024
Company's Cash Balance
Per general ledger
Company balance per reconciliation
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