The following information pertains to Raydon Company.

1. Cash balance per books, July 31, $8,768.

2. $2,023 collected from a customer for Raydon Company in July by the bank through electronic funds transfer. The collection has not been recorded by Raydon Company.

3. Cash balance per bank, July 31, $8,732.

4. July bank service charge not recorded by the depositor $45.

5. Outstanding checks, July 31, $1,486.

6. Deposits in transit, July 31, $3,500.

Instructions

a. Prepare a bank reconciliation at July 31, 2022.

b. Prepare a tabular analysis of the adjustments at July 31 for Raydon Company.

Compute deposits in transit and outstanding checks for two bank reconciliations.