Exercise 8-11

i need help with this assignment, i started doing it but couldn't finish.

The following information pertains to Crane Video Company.

1.Cash balance per bank, July 31, $7,503.2.July bank service charge not recorded by the depositor $36.3.Cash balance per books, July 31, $7,524.4.Deposits in transit, July 31, $1,620.5.Bank collected $1,020 note for Crane in July, plus interest $44, less fee $28. The collection has not been recorded by Crane, and no interest has been accrued.6.Outstanding checks, July 31, $599.

Your answer is partially correct. Try again.  

you need to create a bank reconciliation at July 31. (List items that increase cash balance first.)

CRANE VIDEO COMPANY

Bank Reconciliation

July 31

 

Cash balance per bank statement

Outstanding checks

Bank service charge

Adjusted cash balance per bank

Collection of note receivable

Deposits in transit

$

 

Add

Less

:  

Adjusted cash balance per bank

Bank service charge

Collection of note receivable

Cash balance per bank statement

Deposits in transit

Outstanding checks

 

Add

Less

:  

Collection of note receivable

Cash balance per bank statement

Outstanding checks

Adjusted cash balance per bank

Deposits in transit

Bank service charge

 

Adjusted cash balance per bank

Outstanding checks

Deposits in transit

Cash balance per bank statement

Collection of note receivable

Bank service charge

$

 

Collection of note receivable

Bank service charge

Cash balance per books

Adjusted cash balance per books

Outstanding checks

Deposits in transit

$

 

Add

Less

:  

Deposits in transit

Collection of note receivable

Adjusted cash balance per books

Cash balance per books

Outstanding checks

Bank service charge

 

Less

Add

:  

Deposits in transit

Outstanding checks

Collection of note receivable

Bank service charge

Cash balance per books

Adjusted cash balance per books

 

Collection of note receivable

Outstanding checks

Cash balance per books

Adjusted cash balance per books

Deposits in transit

Bank service charge

$

SHOW LIST OF ACCOUNTS

LINK TO TEXT

Your answer is partially correct. Try again.  

you need to Journalize the adjusting entries at July 31 on the books of Crane Video Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.

Account Titles and Explanation

Debit

Credit

July 31

(To record the collection of the note.)

July 31

(To record the bank service charge.)