Ex 10 The following information applies to the Frankie Computer Repairs checking account on July 31, 20X2. 1) The cash balance per the bank on July 31, 20X2, $11,263. 2) The bank service charges for July were $50. 3) Cash balance in the company's Cash account in the Ledger on July 31, $11,163. 4) Deposits which were "in Transit" on July 31, $1,500. 5) The bank had collected and deposited, on behalf of the company, a note receivable of $1,000 due to the company plus interest, $1,117. 6) As of July 31, several of the checks written by the company and sent to vendors had not yet been received by the bank, $750. 7) There was a recording error by the company when a check written to pay an account payable was written for $52, but recorded for $25. It was discovered when the Cash Payment Journal was compared with the checks that were shown on the bank statement. 8) The bank had invorrectly recorded one of Frankie's deposits as $1,100 instead of the correct amount of $1,200.

(a) Prepare a bank reconciliation for Frankie at July 31. (b) Remember that just preparing the Bank Reconciliation does not change the fact that the Cash account in the Ledger is still showing $11,163. Journalize the entries needed at July 31 to bring the Cash account in the Ledger to its proper amount.

(Use Exhibits 12 & 14 in your textbook as an example of the proper format for a Bank Reconciliation and necessary Journal Entries.)