Prepare a bank reconciliation to calculate correct balance

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Reference no: EM133901342

Problem

Hathaway Company's general ledger shows a cash account balance of $23,260 on July 31, 2024. Cash sales of $1,802 for the last three days of the month have not yet been deposited. The bank statement dated July 31 shows bank service fees of $48 and an NSF check from a customer of $280. The bank processes all checks written by the company by July 31 and lists them on the bank statement, except for one check totaling $1,400. The bank statement shows a balance of $22,530 on July 31. Get the instant assignment help.

Task

A. Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024.

B. Record the necessary entry(ies) to adjust the balance for cash.

Reference no: EM133901342

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