Exercise 8-11 (Part Level Submission)
The following information pertains to Crane Video Company.
1.Cash balance per bank, July 31, $7,863.2.July bank service charge not recorded by the depositor $37.3.Cash balance per books, July 31, $7,884.4.Deposits in transit, July 31, $1,800.5.Bank collected $1,200 note for Crane in July, plus interest $45, less fee $29. The collection has not been recorded by Crane, and no interest has been accrued.6.Outstanding checks, July 31, $600.
Make a bank reconciliation at July 31. (List items that increase cash balance first.)
The adjusted... View the full answer