Answer Happy

The following information pertains to Sheridan Company. 1. 2. 3. 4. 5. 6. Cash balance per bank, July 31, $10,092. July bank service charge not recorded by the depositor $58. Cash balance per books, July 31, $10,208. Deposits in transit, July 31, $4,118. $2,320 collected for Sheridan Company in July by the bank through electronic funds transfer. The accounts receivable collection has not been recorded by Sheridan Company. Outstanding checks, July 31, $1,740.
Cash balance per bank statement Add : Deposits in transit July 31, 2022 Less : Outstanding checks Adjusted cash balance per bank Cash balance per books Bank Reconciliation Add: Less V Electronic funds transfer received Bank service charge Adjusted cash balance per books tA GA 10092 4118 14210 1740 i 12470 10208 58 2320 12528 12470
Date Account Titles and Explanation July 31 July 31 (To record electronic funds transfer received by bank) (To record bank service charge) Debit Credit I