Question

The following information pertains to Skysong, Inc.. 1. Cash balance per bank, July 31, $7.943. 2. July bank service charge not recorded by the depositor $37. 3. Cash balance per books, July 31, $7,964. 4. Deposits in transit, July 31. $1.840. 5. The bank collected $1,256 in July for Skysong through electronic funds transfer. The collection has not been recorded by Skysong. 6. Outstanding checks, July 31. $600. Prepare a bank reconciliation at July 31. (List items that increase cash balance first. Reconcile cash balance per bank first.) Skysong, Inc. Bank Reconciliation Journalize the adjusting entries at July 31 on the books of Skysong, Inc.. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 (To record the collection of accounts receivable.) July 31 (To record the bank service charge.)

Answer 1

CASH

Balance 7964

Service Charge -37

interest

NSF

collection 1256

Adjusted Balance 9183

BANK

Balance 7943

Outstanding Check -600

Deposit in transit 1840

Adjusted Balance 9183

cash 1,219 debit

bank service expense 37 credit

accounts receivable 1,256 credit

Step-by-step explanation:

We have to adjsut each statement for the unknow information of each.

Then we make the journal entry based on what it wasn't recorded.