Textbook Problem

Adjusting an Unknown Cash Ralance (Appendix 6.1) The information that follows is available from the general ledger and the bank statement of Gentry Corporation for the month of August, 2019:

Required:

1. 1. Next Level Starting with the bank statement balance, prepare a schedule to determine Gentry’s cash balance on August 31, prior to any required adjustments.
2. 2. Prepare a bank reconciliation to determine Gentry’s adjusted cash balance on August 31, 2019.
3. 3. Prepare the journal entries necessary to bring Gentry’s cash account balance up to date.