Question: Using the data in BE7.10, prepare the necessary journal entries required on July 31 for Southco. In BE 7.10 An examination of the company's July

Using the data in BE7.10, prepare the necessary journal entries required on July 31 for Southco.
In BE 7.10
An examination of the company's July bank statement shows a balance of $19,260 on July 31; outstanding cheques $3,630; deposits in transit $1,450; EFT collections on account that were not yet recorded on the books $2,170; NSF cheque $1,270; NSF fee $50; and bank services charges $90. Prepare the bank reconciliation at July 31.

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