Use the data from Exercise 4-29B to make the journal entries that Donney should record on August 31 to update his Cash account. Include an explanation for each entry.
In Exercise 4-29B, Joe Donney operates a roller skating center. He has just received the monthly bank statement at August 31 from Citizens National Bank, and the statement shows an ending balance of $638. Listed on the statement are an EFT rent collection of $375, a service charge of $9, two NSF checks totaling $137, and a $20 charge for printed checks. In reviewing his cash records, Donney identifies outstanding checks totaling $756 and an August 31 deposit in transit of $1,695. During August, he recorded a $280 check for the salary of a part-time employee as $28. Donney’s Cash account shows an August 31 cash balance of $1,620. How much cash does Donney actually have at August 31, 2014?