cel E7.11 (LO 3), AP The following information pertains to Lance Company. 1. Cash balance...
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cel E7.11 (LO 3), AP The following information pertains to Lance Company. 1. Cash balance per bank, July 31, $8,732. 2. July bank service charge not recorded by the depositor $45. 3. Cash balance per books, July 31, $8,768. 4. Deposits in transit, July 31, $3,500. 5. $2,023 collected from a customer 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, $1,486. Instructions a. Prepare a bank reconciliation at July 31, 2022. b. Journalize the adjusting entries at July 31 on the books of Lance Company
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