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On August $1,20$X$1,$ Sofia Marciano, the accountant for European Exports, downloaded the company's July $31,20$X$1,$

bank statement from the bank's Website. The balance shown on the bank statement was $$28,800.$ The July $31,20$X

balance in the Cash account in the general ledger was $$13,798.$

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Sofia noted the following differences between the bank's records and the company's Cash account in the general

ledger:

a$.$ An electronic funds transfer for $$14,800$ from Mannheim Group, a customer located in Germany, was received by

the bank on July $31$

c$.$ Theck $1422$ was correctly written and recorded for $$1,200.$ The bank mistakenly paid the check for $$1,240$

$.$ The accounting records indicate that Check $1425$ was issued for $$66$ to make a purchase of supplies. However

A deposit of $$860$ made online showed that the actual amount of the check was for $$96$

f$.$ An automatic debit of $$266$ outstanding: Check $1429$ for $$1,253$ and Check $1430$ for $$145$

but had not be the bank statement

Required:

Prepare a bank reconciliation for the firm as of July $31.$

Record general journal entries for the items on the bank reconciliation statement that must be journalized. Date

the entries July $31,20$X$1$

Analyze:

What effect on total expenses occurred as a result of the general journal entries recorded?

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[$Bank$,$ General

Reconcil... $,$Journal$]]$ Analyze

Prepare a bank reconciliation for the firm as of July $31.$ On August $1,20$X$1,$ Sofia Marciano, the accountant for European Exports, downloaded the company's July $31,20$X$1,$

bank statement from the bank's Website. The balance shown on the bank statement was $$28,800.$ The July $31,20$X$1$

balance in the Cash account in the general ledger was $$13,798.$

Sofia n :

ledger:

a$.$ An electronic funds transfer for $$14,800$ from Mannheim Group, a customer located in Germany, was received by

b$.$ Check $1422$ waly $31.$

b$.$ Check $1422$ was correctly written and recorded for $$1,200.$ The bank mistakenly paid the check for $$1,240$

c$.$ The accounting records indicate that Check $1425$ was issued for $$66$ to make a purchase of supplies. However

examination of the check online showed that the actual amount of the check was for $$96.$

d$.$ A deposit of $$860$ made after banking hours on July $31$ did not appear on the July $31$ bank statement.

e$.$ The following checks were outstanding: Check $1429$ for $$1,253$ and Check $1430$ for $$145.$

$.$ An automatic debit of $$266$ on July $31$ from CentralComm for telephone service appeared on the bank statement

but had not been recorded in the company's accounting records.

Required:

Prepare a bank reconciliation for the firm as of July $31$

Record general journal entries for the items on the bank reconciliation statement that must be journalized. Date

the entries July $31,201$

Analyze:

What effect on total expenses occurred as a result of the general journal entries rec On August $1,20$X$1,$ Sofia Marciano, the accountant for European Exports, downloaded the company's July $31,20$X$1,$ bank statement from the bank's Website. The balance shown on the bank statement was $$28,800.$ The July $31,20$X$1,$ balance in the Cash account in the general ledger was $$13,798.$

Sofia noted the following differences between the bank's records and the company's Cash account in the general ledger:

An electronic funds transfer for $$14,800$ from Mannheim Group, a customer located in Germany, was received by the bank on July $31.$

Check $1422$ was correctly written and recorded for $$1,200.$ The bank mistakenly paid the check for $$1,240.$

The accounting records indicate that Check $1425$ was issued for $$66$ to make a purchase of supplies. However, examination of the check online showed that the actual amount of the check was for $$96.$

A deposit of $$860$ made after banking hours on July $31$ did not appear on the July $31$ bank statement.

The following checks were outstanding: Check $1429$ for $$1,253$ and Check $1430$ for $$145.$

An automatic debit of $$266$ on July $31$ from CentralComm for telephone service appeared on the bank statement but had not been recorded in the compny's accounting records.

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