On August $1,20$X$1,$ the accountant for Western Imports downloaded the company's July $31,20$X$1,$ bank statement from the bank's website. The balance shown on the bank statement was $$28,690.$ The July $31,201,$ balance in the Cash account in the general lefidger was $$14,679.$

Jenny Irvine, the accountant for Western Imports, noted the following differences between the bank's records and the company's Cash account in the general ledger:

a$.$ An electronic funds transfer for $$13,700$ from Foncier Ricard, a customer located in France, was received by the bank on July $31.$

b$.$ Check $1422$ was correctly written and recorded for $$1,200.$ The bank mistakenly paid the check for $$1,250.$

c$.$ The accounting records indicate that Check $1425$ was issued for $$69$ to make a purchase of supplies. However, examination of the check online showed that the actual amount of the check was for $$99.$

d$.$ A deposit of $$730$ made after banking hours on July $31$ did not appear on the July $31$ bank statement.

e$.$ The following checks were outstanding: Check $1429$ for $$1,242$ and Check $1430$ for $$134.$

f$.$ An automatic debit of $$255$ on July $31$ from CentralComm for telephone service appeared on the bank statement but had not recorded in the company's accounting records.

Required:

Prepare a bank reconciliation for the firm as of July $31.$

Record general journal entries for the items on the bank reconciliation that must be journalized.

Analyze:

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Bank Rec

General

Journal

Analyze

Prepare a bank reconciliation for the firm as of July $31.$

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$2$ of $2$ hat was the effect on total expenses as a result of the general journal entries recorded?