Current Attempt in Progress

On July $31,2022,$ Novak Compary had a cash balance per books of $$6,355\mathrm{.}00.$ The statement from Dakota State Bank on that date

showed a balance of $$7,905\mathrm{.}80.$ A comparison of the bank statement with the Cash account revealed the following facts.

The bank service charge for July was $$19\mathrm{.}00.$

The bank collected $$1,630,00$ for Novak through electronic funds transfer.

The July $31$ cash receipts of $$1,309,30$ were not included in the bank statement for July. These receipts were deposited by

the company in a night deposit vault on July $31$

Company check Na$.2490$ issued to L$.$ Taylor, a creditor, for $$394,00$ that cleared the bank in July was incorrectly recorded as

a cash payment on July $10$ for $$349\mathrm{.}00.$

Checks outstanding on July $31$ totaled $$1,979\mathrm{.}10$

On July $31,$ the bank statement showed an NSF charge of $$6\mathrm{.}85\mathrm{.}00$ for a check received by the company from W$.$ Krueger, a

customer, on account.

$($a$)$

Your answer is correct:

Prepare the bank reconciliation as of July $31.($List items that increase balance os per bonk & books first. Reconcile cash

balance per bank first. Round answers to $2$ decimal places, e$.$g$.52\mathrm{.}75.)$

$($b$)$

Prepare the necessary adjusting entries at July $31.($Credit account titles are automatically indented when amount is

entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the

amounts.$)$

Date. Account Titles and Explanation

July $31$

Credit

Credit

$($To record collection of accounts receivable$]$

To record collection of accounts receivable

$31$

$($To record NSF check$)$

$($To recordNSF check$)$

$31$

$($To correct error in recording check$)$

$31$

$31$

$($To record bank service charge$)$

$($To record bank service charge$)$