Acc280 Financial Accounting: E8-11 The following information pertains to Family Video Company
Acc280 Financial Accounting
E8-11 The following information pertains to Family Video Company. 1. Cash balance per bank, July 31, $7,263 2. July bank service charge not recorded by the depositor $28. 3. Cash balance per books, July 31, $7,284. 4. Deposits in transit, July 31, $1,500. 5. Bank collected $900 note for Family in July, plus interest $36, less fee $20. The collection has not been recorded by Family, and no interest has been accrued. 6. Outstanding checks, July 31, $591.
Instructions Prepare a bank reconciliation at July 31.