The following information pertains to lance company.
1. cash balance per bank, july 31, $7,328.
2. july bank service charge not recorded by the depositor $38.
3. cash balance per books, july 31, $7,364.
4. deposits in transit, july 31, $2,700.
5. $2,016 collected for lance company in july by the bank through electronic funds transfer. the collection has not been recorded by lance company.
6. outstanding checks, july 31, $686.
the following information pertains to lance compan

the following information pertains to lance compan
1- prepare a bank reconciliation at july 31, 2017

2- journalize the adjusting entries at july 31 on the books of lance company

You are the manager of a large crude-oil refinery. as part of the refining process, a certain heat exchanger (operated at high temperatures and with abrasive material flowing through it) must be replaced every year. the replacement and downtime cost in the first year is $165 comma 000. this cost is expected to increase due to inflation at a rate of 7% per year for six years (i.e. until the eoy 7), at which time this particular heat exchanger will no longer be needed. if the company's cost of capital is 15% per year, how much could you afford to spend for a higher quality heat exchanger so that these annual replacement and downtime costs could be eliminated?