zhang company's bank statement from nguyen national bank at august
zhang company's bank statement from nguyen national bank at august 31, 2015, shows the information below. _div align="center"__img src="../image/images5/63-a (3925).png"/__/div_a summary of the cash account in the ledger for august shows: balance, august 1, $10,959; receipts $50,050; disbursements $47,794; and balance, august 31, $13,215. analysis reveals that the only reconciling items on the july 31 bank reconciliation were a deposit in transit for $3,200 and outstanding checks of $2,925. the deposit in transit was the first deposit recorded by the bank in august. in addition, you determine that there were two errors involving company checks drawn in august: (1) a check for $340 to a creditor on account that cleared the bank in august was journalized and posted for $430. (2) a salary check to an employee for $275 was recorded by the bank for $277.instructions(a) prepare a bank reconciliation at august 31.(b) journalize the adjusting entries to be made by zhang company at august 31. assume that interest on the note has not been accrued by thecompany.
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