Problem 8-4A Part 2 2. Prepare the Journal entries necessary to make the company's book balance of cash equal to the reconciled cash balance as of July 31. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 Record the adjusting entry required, if any, related to the July 31 cash balance. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general journal >
Problem 8-4A Part 2 2. Prepare the Journal entries necessary to make the company's book balance of cash equal to the reconciled cash balance as of July 31. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 Record the adjusting entry required, if any, related to the July 31 cash balance. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general journal >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Problem 8-4A Preparing a bank reconciliation and recording adjustments LO P3
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The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance as of July 31.
- On July 31, the company’s Cash account has a $25,239 debit balance, but its July bank statement shows a $26,547 cash balance.
- Check No. 3031 for $1,090, Check No. 3065 for $321, and Check No. 3069 for $1,858 are outstanding checks as of July 31.
- Check No. 3056 for July rent expense was correctly written and drawn for $1,250 but was erroneously entered in the accounting records as $1,240.
- The July bank statement shows the bank collected $9,000 cash on a note for Branch. Branch had not recorded this event before receiving the statement.
- The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF.
- The July statement shows a $14 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received.
- Branch’s July 31 daily cash receipts of $10,132 were placed in the bank’s night depository on that date but do not appear on the July 31 bank statement.
![Problem 8-4A Part 2
2. Prepare the journal entries necessary to make the company's book balance of cash equal to the reconciled cash balance as of July
31. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account fleld.)
View transaction list
Journal entry worksheet
< 1
Record the adjusting entry required, if any, related to the July 31 cash
balance.
2 3 4 5 6 7
Note: Enter debits before credits.
Transaction
a.
Record entry
General Journal
Clear entry
Debit
Credit
View general journal](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff6f91fd2-a8f3-4a2e-bb42-a8593f8622b2%2F6cacc6b8-1fa3-40e5-a2e4-ed9a2f8bdd94%2Fx40nocq_processed.png&w=3840&q=75)
Transcribed Image Text:Problem 8-4A Part 2
2. Prepare the journal entries necessary to make the company's book balance of cash equal to the reconciled cash balance as of July
31. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account fleld.)
View transaction list
Journal entry worksheet
< 1
Record the adjusting entry required, if any, related to the July 31 cash
balance.
2 3 4 5 6 7
Note: Enter debits before credits.
Transaction
a.
Record entry
General Journal
Clear entry
Debit
Credit
View general journal
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