My Subscriptions Courses ACC211-Financial Accounting / Chapter 7 Chapter 7 homework QUESTION 3 Not complete 0.29 paints out of 1.00 P Flag question Bank Reconciliation On July 31, Sulivan Company's Cash in Bank account had a balance of $8.659.92. On that date, the bank statement indicated a balance of $10,918.26 A comparison of returned checks and bank advices revealed the following 1. Deposits in transit July 31 amounted to $4,292.34 2. Outstanding checks July 31 totaled $1,761.48 3. The bank erroneously charged a $390.00 check of Solomon Company against the Sulivan bank account 4. A bank service charge has not yet been recorded by Sullivan Company of $30.00 5. Sullivan neglected to record $4,800.00 borrowed from the bank on a ten percent six-month note. The bank statement shows the $4,800.00 as a deposit. 6. Included with the returned checks is a memo indicating that J. Martin's check for $768.00 had been returned NSF.Martin, 7. Sulivan Company recorded a $130.80 payment for repairs as $1,308.00 a customer, had sent the check to pay an account of $792.00 less a $24 discount a. Prepare a bank reconciliation for Sultlivan Company at July 31 b. Prepare the journal entry for entries) necessary to bring the Cash in Bank account into agreement with the reconciled cash balance on the bank reconciliation. SULLIVAN COMPANY 17 f 10 112 prt pouse breaksy 5 6 7 8 9 0