A B D E F G . 1 J K L M N 0 Q R s 1 The following information pertains to Lance Company's cash account for July 2020. 2 3 1) Cash balance per bank, July 31, $8,732. 4 2) July bank service charge not recorded by the depositor $45. 5 3) Cash balance per books, July 31, $8,786. 6 4) Deposits in transit, July 31, $3,500. 7 5) $2,023 collected from a customer for Lance Company in July by the bank through electronic funds transfer. The collection 8 has not been recorded by Lance Company. 96) Outstanding checks, July 31, $1,486. 10 7) The company issued check No. 889 for $386 to Staples, on account. The check, which cleared the bank in July, was incorrectly 11 journalized and posted by Lance for $368. 12 13 Required: 14 a) Prepare a bank reconciliation at July 31, 2020. 15 b) Journalize the adjusting entries at July 31 on the books of Lance Company. 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35
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