Question 3 The following information pertains to Family Video Company. 1.Cash ba

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Question 3






The following information pertains to Family Video Company. 1.Cash balance per bank, July 31, $9,710.63.
2.July bank service charge not recorded by the depositor $37.44.
3.Cash balance per books, July 31, $9,738.71.
4.Deposits in transit, July 31, $2,005.50.
5.Bank collected $1,203.30 note for Family in July, plus interest $48.13, less fee $26.74. The collection has not been recorded by Family, and no interest has been accrued.
6.Outstanding checks, July 31, $790.17.


























Prepare a bank reconciliation at July 31. (Round answers to 2 decimal places, e.g. 10.50.)



Collection of note receivableBank service chargeCash balance per bank statementCash balance per booksOutstanding checksDeposits in transit

$



Add: Collection of note receivableDeposits in transitCash balance per bank statementCash balance per booksBank service chargeOutstanding checks












Less: Cash balance per booksBank service chargeOutstanding checksCash balance per bank statementDeposits in transitCollection of note receivable






Adjusted cash balance per bank


$









Collection of note receivableBank service chargeDeposits in transitCash balance per booksCash balance per bank statementOutstanding checks

$



Add: Cash balance per booksOutstanding checksCash balance per bank statementBank service chargeCollection of note receivableDeposits in transit












Less: Cash balance per bank statementCollection of note receivableDeposits in transitOutstanding checksCash balance per booksBank service charge






Adjusted cash balance per books


$

Explanation / Answer

Cash balance per bank, July 31, $9,710.63. Less: bank service charge not recorded by the depositor $37.44. Less: Deposits in transit, July 31, $2,005.50. Add:Bank collected $1,203.30 note for Family in July, plus interest $48.13, less fee $26.74. The collection has not been recorded by Family, and no interest has been accrued. 1224.69 6.Less: Outstanding checks, July 31, $790.17. Cash balance per books, July 31, $9,738.71.

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