Question - The following information pertains to Joyce Company.
1. Cash balance per bank, July 31, $8,458.
2. July bank service charge not recorded by the depositor $58.
3. Cash balance per books, July 31, $8,494.
4. Deposits in transit, July 31, $3,830.
5. Note for $3,130 collected for Joyce Company in July by the bank, plus interest $56 less fee $40. The collection has not been recorded by Joyce Company, and no interest has been accrued.
6. Outstanding checks, July 31, $706.
Prepare a bank reconciliation at July 31, 2014.
Journalize the adjusting entries at July 31 on the books of Joyce Company.