(Answered) On july 31 2017 sheridan company had a cash balance per

Accounting

On July 31, 2017, Sheridan Company had a cash balance per books of $6,270.00. The statement from Dakota State Bank on that date showed a balance of $7,820.80. A comparison of the bank statement with the Cash account revealed the following facts.

1. The bank service charge for July was $22.00.

2. The bank collected $1,650.00 for Sheridan Company through electronic funds transfer.

3. The July 31 receipts of $1,326.30 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 $364.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $346.00.

5. Checks outstanding on July 31 totaled $1,972.10.

6. On July 31, the bank statement showed an NSF charge of $705.00 for a check received by the company from W. Krueger, a customer, on account.

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