The following information pertains to Raydon Company.
1. Cash balance per books, July 31, $8,768.
2. $2,023 collected from a customer for Raydon Company in July by the bank through electronic funds transfer. The collection has not been recorded by Raydon Company.
3. Cash balance per bank, July 31, $8,732.
4. July bank service charge not recorded by the depositor $45.
5. Outstanding checks, July 31, $1,486.
6. Deposits in transit, July 31, $3,500.
Instructions
a. Prepare a bank reconciliation at July 31, 2022.
b. Prepare a tabular analysis of the adjustments at July 31 for Raydon Company.
Compute deposits in transit and outstanding checks for two bank reconciliations.
