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(Bank Reconciliation) On July 31, 2014, the Cash in Bank...

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Accounting

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On July 31, 2014, the Cash in Bank account of Ricablanca Blades has a balance of P72,166. On that date, the bank statement indicated a balance of P95,347.50. Comparison of returned checks and bank memos revealed the following: 1. Deposits in transit as at July 31 amounted to P31,407.50. 2. Outstanding checks as at July 31 totaled P14,679. 3. The bank erroneously charged a P3,250 check of Ricoblanca Glades against the Ricablanca bank account. 4. A P250 bank service charge has not yet been recorded in the books. 5. Ricablanca neglected to record P40,000 borrowed from the bank on a 10% six-month note. The bank statement has already credited the P40,000. 6. Included with the paid checks is a memo indicating that Julio Markado's check for P6,400 had been returned DAIF. 7. Ricablanca recorded a P1,090 payment for repairs as P10,900. Required: Prepare the bank reconciliation for Ricablanca Blades at July 31

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