Reference no: EM133122079
Question - The following information pertains to Wildhorse Company.
1. Cash balance per bank, July 31, $10,788.
2. July bank service charge not recorded by the depositor $62.
3. Cash balance per books, July 31, $10,912.
4. Deposits in transit, July 31, $4,402.
5. $2,480 collected for Wildhorse Company in July by the bank through electronic funds transfer. The accounts receivable collection has not been recorded by Wildhorse Company.
6. Outstanding checks, July 31, $1,860.
Required -
a) Prepare a bank reconciliation at July 31, 2022. (List items that increase balance as per bank & books first.)
b) Journalize the adjusting entries at July 31 on the books of Wildhorse Company. Credit account titles are automatically indented when amount is entered.
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