The following information pertains to Sandhill Corporation.1. Balance per bank, July 31, $8,802.2. July bank service charge not yet recorded by Sandhill, $25.3. Balance per books, July 31, $9,192.4. Deposits in transit, July 31, $2,574.5. Electronic collection on account (EFT) from a customer, $1,691 not yet recorded by Sandhill.6. Outstanding cheques, July 31, $918.7. Returned cheque from the deposit of a collection on account, $360, due to nonsufficient funds. Related bank service charge, $40. The charges will be added to the customer’s account. Prepare any journal entries required from the bank reconciliation at July 31 of Sandhill Corporation. (Credit account titles areautomatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry isrequired, select "No Entry" for the account titles and enter O for the amounts.)DateAccount Titles and ExplanationDebitCreditJuly 31(To record electronic collection)31(To record bank service charge)31(To record NSF cheque and charges)List of AccountsSave for LaterAttempts: 0 of 1 usedSubmit Answer Prepare a bank reconciliation at July 31, 2022. (List items that increase balance as per bank & books first.)SANDHILL CORPORATIONBank Reconciliation$$

BRS stands for Bank reconciliation. BRS is a statement that is prepared to reconcile the balance as…

Answered: The following information pertains to…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5DQ

See similar textbooks

Related questions

Concept explainers

Question

The following information pertains to Sandhill Corporation.

1.		Balance per bank, July 31, $8,802.
2.		July bank service charge not yet recorded by Sandhill, $25.
3.		Balance per books, July 31, $9,192.
4.		Deposits in transit, July 31, $2,574.
5.		Electronic collection on account (EFT) from a customer, $1,691 not yet recorded by Sandhill.
6.		Outstanding cheques, July 31, $918.
7.		Returned cheque from the deposit of a collection on account, $360, due to nonsufficient funds. Related bank service charge, $40. The charges will be added to the customer’s account.

Prepare any journal entries required from the bank reconciliation at July 31 of Sandhill Corporation. (Credit account titles are
automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is
required, select "No Entry" for the account titles and enter O for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
July 31
(To record electronic collection)
31
(To record bank service charge)
31
(To record NSF cheque and charges)
List of Accounts
Save for Later
Attempts: 0 of 1 used
Submit Answer

Prepare a bank reconciliation at July 31, 2022. (List items that increase balance as per bank & books first.)
SANDHILL CORPORATION
Bank Reconciliation
$
$

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Recommended textbooks for you

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781337280570

Author:

Scott, Cathy J.

Publisher:

South-Western College Pub