Wang Company deposits all receipts and makes all payments by check. The following information is available from the cash records.

Instructions
(a) Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance.
(b) Prepare the general journal entry or entries to correct the Cashaccount.

Transcribed Image Text:

June 30 Bank Reconciliation $14,000 3,080 Balance per bank Add: Deposits in transit Deduct: Outstanding checks Balance per books $13,080 Month of July Results Per Banlk Per Books $17,300 10,000 8,000 2,000 30 670 $18,500 11,620 6,200 Balance July 31 July deposits July checks July note collected (not included in July deposits) July bank service charge July NSF check from a customer, returned by the bank (recorded by bank as a charge)