InstructionsPrepare the journal entry to record the reimbursement of the petty cash fund.*E7.24 (LO 6) (Bank Reconciliation and Adjusting Entries) Kipling pledeposits all receipts and makes all payments by check. The following information isavailable from the cash records.June 30 Bank ReconciliationBalance per bankAdd: Deposits in transitDeduct: Outstanding checks 2,000Balance per books£7,0001,540£6,540Month of July ResultsPerPerBank Books£8,650 £9,2504,500 5,810Balance July 31July depositsJuly checksJuly note collected (not included in July deposits)4,0003,1001,500July bank service charge15-July NSF check from a customer, returned by the bank (recorded bybank as a charge)335-Instructionsa. Prepare a bank reconciliation going from balance per bank and balance per bookto correct the cash balance.b. Prepare the general journal entry or entries to correct the Cash account.

Bank Reconciliation statement is a statement which is prepared to reconcile the cash balance as per…

Instructions Prepare the journal entry to record the reimbursement of the petty cash fund. "E7.24 (LO 6) (Bank Reconciliation and Adjusting Entries) Kipling plc 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 Add: Deposits in transit Deduct: Outstanding checks 2,000 £7,000 1,540 Balance per books £6,540 Month of July Results Per Bank Books Per Balance July 31 £8,650 £9,250 5,810 July deposits 4,500 July checks July note collected (not included in July deposits) July bank service charge July NSF check from a customer, returned by the bank (recorded by bank as a charge) 4,000 3,100 1,500 15 335 Instructions a. Prepare a bank reconciliation going from balance per bank and balance per book to correct the cash balance. b. Prepare the general journal entry or entries to correct the Cash account.