ecure https://edugen.wileyplus.com/edugen/iti/main.uni I Kimmel, Accounting, 6e

Question

ecure https://edugen.wileyplus.com/edugen/iti/main.uni I Kimmel, Accounting, 6e The following information pertains to Oriole Company 1. Cash balance per bank, July 31, 58088 2. July bank service dharge not recorded by the depositor $55 3. Cash balance per books, July 31, $8.124 4. Deposits in transit, July 31, $3,460. 5. $2.776 collected for Oriale Company in July by the bank through electronic funds transfer. The collection has not been reconded by Oriole Company 6. Outstanding checks, July 31,$703 Prepare a bank reconciliation at auly 31, 2017. (List items that increase balance as per bank & books first.) 3ev", ize the ad aseng ne..t J? 1 en th, boots oor.. Comoanv (Credit account eitle, are automatically ndented when amounts-tered. Do Nt m ???

Explanation / Answer

ORIOLE COMPANY Bank Reconciliation Jul-31 Balance as per bank $    8,088 Add: Deposit in transit $    3,460 $ 11,548 Deduct: Outstanding checks $        703 Adjusted bank balance $ 10,845 Balance as per books $    8,124 Add: Electronic collection $    2,776 $ 10,900 Less: Bank charges $          55 Asjusted book balance $ 10,845

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