Question

View Policies Current Attempt in Progress The following information pertains to Sandhill Company Support 1. Cash balance per books, August 31. 57424 2 Cash balance per bank, August 31. 57,388 2. Outstanding checks, August 31,5697. Augustbark service charge not recorded by the depositor $49. 5. Deposits in transit, August 31.93.160. In addition, 52.476 collected for Sandhill Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Sandhill Comp Prepare a bank reconciliation at August 31, 2002. (List items that increase balance s per bank & books SANDHILL COMPANY Bank Reconciliation 1 .2002 A -

Answer 1

Please give positive ratings so I can keep answering. It would help me a lot. Please comment if you have any query. Thanks!

Sandhill Company
Bank reconciliation as on August 31, 2022.
	Amount $
Balance as per books	7,424.00
Add:
Outstanding checks not cleared by bank	697.00
Electronic funds transfer received by bank but not recorded in books	2,476.00
Total	10,597.00
Less:
Deposits in transit	3,160.00
Service charged deducted by bank but not recorded in books	49.00
Balance as per bank	7,388.00
Note:
The Bank reconciliation is correct but the statement or headings may be different. So you can choose suitable option from the list. If any query please comment and don’t give negative rating before asking for any explanation needed by you.
Journal Entry
Account	Debit $	Credit $
Bank	2,476.00
Accounts Receivable		2,476.00
(To record electronic funds transfer received by bank)
Service Charges	49.00
Bank		49.00
(To record bank service charges)