Question: Slacks.com received a bank statement from Italian Bank indicating a bank balance of $7,600. Based on Slacks.coms check stubs, the ending checkbook balance was $8,767.

Slacks.com received a bank statement from Italian Bank indicating a bank balance of $7,600. Based on Slacks.com’s check stubs, the ending checkbook balance was $8,767. Your task is to prepare a bank reconciliation for Slacks. com as of July 31, 201X, from the following information (journalize entries as needed):

a. Checks outstanding: no. 122, $810; no. 130, $690.

b. Deposits in transit, $2,400.

c. Slacks.com forgot to record a $1,260 equipment purchase made with

a debit card.

d. Bank service charges, $40.

e. Italian Bank collected a note for Slacks.com, $1,040, less a $7 collection fee.

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