question archive On July 31, 2017, Sunland Company had a cash balance per books of $6,275
On July 31, 2017, Sunland Company had a cash balance per books of $6,275
Subject:AccountingPrice: Bought3
On July 31, 2017, Sunland Company had a cash balance per books of $6,275.00. The statement from Dakota State Bank on that date showed a balance of $7,825.80. A comparison of the bank statement with the Cash account revealed the following facts.
1)The bank service charge for July was $17.00.2.The bank collected $1,655.00 for Sunland Company through electronic funds transfer.3.The July 31 receipts of $1,336.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31.4.Company check No. 2480 issued to L. Taylor, a creditor, for $384.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $348.00.5.Checks outstanding on July 31 totaled $1,995.10.6.On July 31, the bank statement showed an NSF charge of $710.00 for a check received by the company from W. Krueger, a customer, on account.
