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Practice Problem 2 The following information pertains to Robo Corp.

1. Cash balance per bank, July 31, $8,500.

2. July bank service charge not recorded by the depositor $50.

3. NSF check: $600 from customer.

4. Deposits in transit, July 31, $2,300.

5. Note for $2,000 collected for Robo in July by the bank, plus interest $200 less fee $40. The collection has not been recorded by Allied, and no interest has been accrued.

6. Outstanding checks, July 31, $1,2007. Cash balance per books, July 31 $8,090.

Required: Prepare a bank reconciliation at July 31, 2007 and journal entriesIdentify the items above that will require journal entries in the accounting records. Circle the correspondingnumber.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92798471

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