Question

Cash balance per bank, July 31, $7,905. July bank service charge not recorded by the depositor $58. Cash balance per books, July 31, $7,941. Deposits in transit, July 31, $3,277. Note for $2,577 collected for Joyce Company in July by the bank, plus interest $56 less fee $40. The collection has not been recorded by Joyce Company, and no interest has been accrued. Outstanding checks, July 31, $706. Prepare a bank reconciliation at July 31, 2014. Journalize the adjusting entries at July 31 on the books of Joyce Company.