Question

 On July 31, 2022, Cullumber Company had a cash balance per books of $6,250.00. The statement from Dakota State Bank on that date showed a balance of $7,800.80. A comparison of the bank statement with the Cash account revealed the following facts.

 1. The bank service charge for July was $20.00.

 2. The bank collected $1,630.00 from a customer for Cullumber Company through electronic funds transfer.

 3. The July 31 receipts of $1,308.30 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 $394.00 that cleared the bank in July was incorrectly entered in the cash payments journal

 on July 10 for $349.00.

 5. Checks outstanding on July 31 totaled $1,979.10.

 6. On July 31, the bank statement showed an NSF charge of $685.00 for a check received by the company from W. Krueger, a customer, on account.

 Prepare the bank reconciliation as of July 31. (List items that increase balance as per bank & books first.)

Answer 1