Shortly after July 31, Towanda Corporation received a bank statement containing the following information:

July cash transactions and balances on Towanda€™s records are shown in the following T-account:

Required:
1. Prepare a bank reconciliation for July.
2. Prepare the adjusting entries made by Towanda Corporation as a result of this reconciliation process.
3. What amount is reported as cash on the balance sheet at July 31?

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Checks Deposits Balance Beg. balance $270 150 330 4,5 2 4,500 2 7 1,40010,000 10,550 325 1,600 2,700 3,500 7,300 25** "NSF check (deposited in prevlous period, but withdrawn this perioe Bank service charge 55005 5 3 1 6789012345 t-0005500 53225 13 014453 li 890 123 m 77778 8880 8 0 350592 590 151