Problem 7-3A (Part Level Submission)

On July 31, 2017, Pharoah Company had a cash balance per books of $6,265.00. The statement from Dakota State Bank on that date showed a balance of $7,815.80. A comparison of the bank statement with the Cash account revealed the following facts.

1.		The bank service charge for July was $21.00.
2.		The bank collected $1,645.00 for Pharoah Company through electronic funds transfer.
3.		The July 31 receipts of $1,322.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31.
4.		Company check No. 2480 issued to L. Taylor, a creditor, for $364.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $346.00.
5.		Checks outstanding on July 31 totaled $1,967.10.
6.		On July 31, the bank statement showed an NSF charge of $700.00 for a check received by the company from W. Krueger, a customer, on account.