htmFreturnUr 120 laSearch hp 9 6 Help Save Exit Submi Saved

htmFreturnUr 120% laSearch hp 9 6 Help Save& Exit Submi Saved Check my work Problem 9.6A Preparing a bank reconcillation statement and journalizing entries to adjust the cash balance. LO 9-5, 9-6, 9-7 On August 1, 2019, the accountant for Western Imports downloaded the company\'s July 31, 2019, bank statement from the banks Website. The balance shown on the bank statement was $28.810. The July 31, 2019, balance in the Cash account in the general ledger was $13,687 noted the following differences between the bank\'s records and Jenny lrvine, the accountant for Western Imports, the company\'s Cash account in the general ledger a. An electronic funds transfer for $14,900 from Foncier Ricard, a customer located in France, was received by the bank on July 31 b. Check 1422 was correctly written and recorded for $1.200. The bank mistakenly paid the check for $1.230 c. The accounting records indicate that Check 1425 was iss sued for $69 to make a purchase of supplies. However examination of the check online showed that the actual amount of the check was for $99 d. A deposit of $850 made after banking hours on July 31 did not appear on the July 31 bank

Solution

WESTERN IMPORTS Bank Reconciliation Statement July 31, 2019 Balance on bank statement $        28,810 Additions: Error by bank (1422) $                30 Deposit in transit                  850                  880            29,690 Deductions: Outstanding Checks 1429              1,254 1430                  146 Total Deductions              1,400 Adjusted Bank Balance $        28,290 balance in books $        13,687 Additions: EFT Received $        14,900            14,900            28,587 Deductions: Error in check(1425)                    30 telephone charges (Auto Debit)                  267                  297 Adjusted Bank balance $        28,290 Date General Journal Debit Credit 1 July 31, 2019 Cash $        14,900 Accounts Receivable $        14,900 2 No Entry 3 July 31, 2019 Supplies $                30 Cash $                30 4 No Entry 5 No Entry 6 July 31, 2019 Telephone Expenses $              267 Cash $              267