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Bank reconciliation statement

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E7-8
The following information pertains to DeVries Company

1)Cash balance per bank on July 31, $7,328.
2)July bank service charge not recorded by the depositor $40.
3)Cash balance as per books, July 31, $7,280.
4)Deposits in transit, July 31 $1,700.
5)Note for $1000 collected for DeVries in July by the bank, plus intrest $36 less fee 20. The collection has not been recorded by Allied, and no interest has been accured
6) Outstanding checks, July 31, $772.

a)Prepare a bank reconciliation at July 31, 2007.
b)Journalize the adjusting entries at July 31 on the books of DeVries Company.

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Solution Summary

Word file contains bank reconciliation statement and adjusting journal entries in the the books of DeVries Company.

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