(Solved):   Harrison Company maintains a checking account at the First National City Bank. The bank ...

 

Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2024 bank statement included the following information: The company's general ledger account had a balance of \( \$ 40,278 \) at the end of July. Deposits outstanding totaled \( \$ 7,100 \) and all checks written by the company were processed by the bank except for those totaling \( \$ 8,500 \). In addition, a \( \$ 2,800 \) July deposit from a credit customer was recorded as a \( \$ 280 \) debit to cash and credit to accounts receivable, and a check correctly recorded by the company as a \( \$ 70 \) disbursement was incorrectly processed by the bank as a \( \$ 700 \) disbursement. Required: 1. Prepare a bank reconciliation for the month of July. 2. Prepare the necessary journal entries at the end of July to adjust the general ledger cash account. Use the miscellaneous expense account to record the bank service charges. Complete this question by entering your answers in the tabs below. Prepare a bank reconciliation for the month of July. Prepare the necessary journal entries at the end of July to adjust the general ledger cash account. Use the miscellaneous expense account to record the bank service charges. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.