The following information pertains to Crane Company. 1. Cash balance per bank, July 31, $7,388....
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The following information pertains to Crane Company. 1. Cash balance per bank, July 31, $7,388. 2. July bank service charge not recorded by the depositor $41. 3. Cash balance per books, July 31, $7,424. 4. Deposits in transit, July 31, $2,760. 5. $2,076 collected for Crane Company in July by the bank through electronic funds transfer. The collection has not been recorded by Crane Company. 6. Outstanding checks, July 31, $689. Prepare a bank reconciliation at July 31, 2017. (List items that increase balance as per bank & books first.)
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