Question 1 ( Total 50 points ) The following information pertains to Jupiter Company (amounts in thousands). 1. Cash balance per bank, July 31 , HK ( $ 7,163 ). 2. July bank service charge not recorded by the depositor HK ( $ 28 ). 3. Cash balance per books, July 31 , HK ( $ 7,184 ). 4. Deposits in transit, July 31 , HK ( $ 1,300 ). 5. Bank collected HK ( $ 700 ) note for Jupiter in July, plus interest HK ( $ 36 ), less fee HK$20. The collection has not been recorded by Jupiter, and no interest has been accrued. 6. Outstanding checks, July 31 , HK$591. Instructions a. Prepare a bank reconciliation at July 31 . ( 40 points ) b. Journalize the adjusting entries at July 31 on the books of Jupiter Company. ( 10 points )

Question 1 (Total 50 points ) The following information pertains to Jupiter Company (amounts in thousands). 1. Cash balance per bank, July 31 , HK $7,163. 2. July bank service charge not recorded by the depositor HK $28. 3. Cash balance per books, July 31 , HK $7,184. 4. Deposits in transit, July 31 , HK $1,300. 5. Bank collected HK\$700 note for Jupiter in July, plus interest HK $36, less fee HK\$20. The collection has not been recorded by Jupiter, and no interest has been accrued. 6. Outstanding checks, July 31 , HK\$591. Instructions a. Prepare a bank reconciliation at July 31 . ( 40 points ) b. Journalize the adjusting entries at July 31 on the books of Jupiter Company. ( 10 points )