Required information The following information applies to th

Required information The following information applies to the questions displayed below ash The following information is available to reconcile Branch Company\'s book balance of cash with its bank statement balance as of July 31, 2017 a. On July 31, the company\'s Cash account has a $25,644 debit balance, but its July bank statement shows a $26,675 cash balance b. Check No. 3031 for $1,000 and Check No. 3040 for $492 were outstanding on the June 30 bank reconciliation. Check c. In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that The July bank statement shows the bank collected $7,000 cash on a noninterest-bearing note for Branch, deducted a e. The bank statement shows an $805 charge for a $795 NSF check plus a $10 NSF charge. The check had been f. The July statement shows a $11 bank service charge. it hes not yet been recorded in miscellaneous expenses because 9. Branch\'s July 31 daily cash receipts of $8,152 were placed in the bank\'s night depository on that date but do not appear No. 3040 is listed with the July canceled checks, but Check No. 3031 is not. Also, Check No. 3065 for $276 and Check No. 3069 for $1,768, both written in July, are not among the canceled checks on the July 31 statement Check No. 3056 for July rent expense was correctly written and drawn for $1,220 but was erroneously entered in the accounting records as $1,210 es $35 collection expense, and credited the remainder to its account. Branch had not recorded this event before recelving the statement. received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF no previous notification had been received. on the July 31 bank statement 2. Prepare the journal entries necessary to bring the company\'s book balance of cash into conformity with the reconciled cosh balance as of July 31, 2017 (if no entry is required for a tren section, event, select \"No journal entry required\" in the first \'ccount field.) Prev3 of 3 Net

Solution

Transaction General Journal Debit Credit a. No journal entry required b. No journal entry required c. Rent expense 10 Cash 10 d. Cash 6,965 Collection expense 35 Notes receivable 7,000 e. Accounts receivable—E. Shaw 805 Cash 805 f. Miscellaneous expenses 11 Cash 11 g. No journal entry required