The following information pertains to robo corp1 cash, Ask an Expert

Accounting

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, $1,200

7. Cash balance per books, July 31 $8,090.

Required:

Prepare a bank reconciliation at July 31, 2007 and journal entries. Identify the items
above that will require journal entries in the accounting records. Circle the corresponding number.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91623984

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