Problem 8-5A (Part Level Submission)

Rodriguez Company maintains a checking account at the Imura Bank. At July 31, selected data from the ledger balance and the bank statement are shown below.

		Cash in Bank
		Per Books		Per Bank
Balance, July 1		$17,920		$16,120
July receipts		81,720
July credits				83,795
July disbursements		77,470
July debits				75,076
Balance, July 31		$22,170		$24,839

Analysis of the bank data reveals that the credits consist of $79,000 of July deposits and a credit memorandum of $4,795 for the collection of a $4,720 note plus interest revenue of $75. The July debits per bank consist of checks cleared $75,015 and a debit memorandum of $61 for printing additional company checks. You also discover the following errors involving July checks. (1) A check for $370 to a creditor on account that cleared the bank in July was journalized and posted as $730. (2) A salary check to an employee for $455 was recorded by the bank for $355. The June 30 bank reconciliation contained only two reconciling items: deposits in transit $8,320 and outstanding checks of $6,520.

(a) Prepare a bank reconciliation at July 31, 2017. (List items that increase cash balance first. Reconcile cash balance per bank first.) RODRIGUEZ COMPANY Bank Reconciliation July 31, 2017 $ $