Exercise - Swifty Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records.
June 30 Bank Reconciliation
Balance per bank $8,400
Add: Deposits in transit 1,848
Deduct: Outstanding checks (2,400)
Balance per books $7,848
Month of July Result
Per Bank Per Books
Balance July 31 $10,380 $11,100
July deposits 6,000 6,972
July checks 4,800 3,720
July note collected (not included in July deposits) 1,200
July bank service charge 18
July NSF check from a customer, returned by the bank (recorded by bank as a charge) 402
(a) Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance.