On July 31, Sheridan Ltd. had a cash balance of $18,630 in its general ledger. The bank statement from the Caisse Populaire on that date showed a balance of $31,376. A comparison of the bank statement with the Cash account revealed the following:

1.		The bank statement included service charges and debit and credit card processing fees of $164.
2.		The bank statement included electronic collections from customers on account totalling $7,570. Sheridan had not recorded the EFT.
3.		A deposit of $4,450 made by another company was incorrectly added to Sheridan’s account by the Caisse Populaire.
4.		Salaries of $6,020 were paid electronically during the month. The company has already recorded these.
5.		Cheques outstanding on June 30 totalled $3,980. Of these, $3,090 worth cleared the bank in July. All cheques written in July cleared the bank in July.

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Prepare the bank reconciliation at July 31. (List items that increase balance as per bank & books first.) SHERIDAN LTD. Bank Reconciliation July 31 $ $ $4 %24 %24 %24 > > .. Prepare the bank reconciliation at July 31. (List items that increase balance as per bank & books first.) SHERIDAN LTD. Bank Reconciliation July 31 $ $ $4 %24 %24 %24 > > ..

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Answer SHERIDAN LTD Bank Reconciliation July 31 Cash balance per bank statement 31... View the full answer