question problem 7 3a part level submission on july 31 2014 redeker company had a ca 4277232
Question
Problem 7-3A (Part Level Submission)
On July 31, 2014, Redeker Company had a cash balance per booksof $6,378. The statement from Nashota State Bank on that dateshowed a balance of $7,928.80. A comparison of the bank statementwith the Cash account revealed the following facts.
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1. |
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The bank service charge for July was $17. |
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2. |
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The bank collected a note receivable of $1,677 for RedekerCompany on July 15, plus $38 of interest. The bank made a $18charge for the collection. Redeker has not accrued any interest onthe note. |
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3. |
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The July 31 receipts of $1,378.30 were not included in the bankdeposits for July. These receipts were deposited by the company ina night deposit vault on July 31. |
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4. |
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Company check No. 2480 issued to T. Laird, a creditor, for$374.00 that cleared the bank in July was incorrectly entered inthe cash payments journal on July 10 for $347.00. |
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5. |
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Checks outstanding on July 31 totaled $2,028.10. |
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6. |
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On July 31, the bank statement showed an NSF charge of $752 fora check received by the company from K. Wagner, a customer, onaccount. |
Prepare the bank reconciliation as of July 31.