Business, 05.05.2020 21:40 jaallen3679

On July 31, 2022, Blossom Company had a cash balance per books of $6,350.00. The statement from Dakota State Bank on that date showed a balance of $7,900.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $17.00. 2. The bank collected $1,625.00 from a customer for Blossom Company through electronic funds transfer. 3. The July 31 receipts of $1,306.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. 4. Company check No. 2480 issued to L. Taylor, a creditor, for $364.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $346.00. 5. Checks outstanding on July 31 totaled $1,947.10. 6. On July 31, the bank statement showed an NSF charge of $680.00 for a check received by the company from W. Krueger, a customer, on account. a. Prepare the bank reconciliation as of July 31. (List items that increase cash balance first. Round answers to 2 decimal places, e. g., 1,245.25)
b. Prepare the necessary adjusting entries at July 31.

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On July 31, 2022, Blossom Company had a cash balance per books of $6,350.00. The statement from Dako...

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