On July 31st 2017 Ivanhoo company had a cash balance per book of $6,310.00. The statement from Dakota state bank showed a balance of $7,860.80.A comparison of the bank statement with the cash account revealed the following:
1. The bank service charge for July was $18.00
2. The bank collected $ 1690.00 through electronic fund transfer
3. The July 31st receipts of $1370.30 were not included in the bank deposits for July.
4. Company check number 2480 issued to L. Taylor, a creditor, for $354,00 that cleared the bank in July was in correctly entered in the cash payment journal on July 10th for $345.00
5. Checks outstanding on July 31st totaled to $2,003.10
6. On July 31st, the bank statement showed an NSF charge of $745.00 for a check received from the company by W. Krueger a customer, on account.