Problem 9.8A Preparing a bank reconciliation statement and journalizing entries to adjust the cash balance. LO 9-9, 9-10, 9-11 On August 1, 2019, the accountant for Western Imports downloaded the company's July 31, 2019, bank statement from the bank's Website. The balance shown on the bank statement was $28.730. The July 31, 2019. balance in the Cash account in the general ledger was $14,325. 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 $14,100 from Foncler 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 $1.220 c. The accounting records indicate that Check 1425 was issued for $66 to make a purchase of supplies. However, examination of the check online showed that the actual amount of the check was for $96. d. A deposit of $770 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 $1.246 and Check 1430 for $138. f. An automatic debit of $259 on July 31 from CentralComm for telephone service appeared on the bank statement but had not been recorded in the company's accounting records. Required: 1. Prepare a bank reconciliation for the firm as of July 31 2. Record general journal entries for the items on the bank reconiliation that must be journalized Analyze: What effect on total expenses occurred as a result of the general journal entries recorded? Next >