Blairsville Corp An Analysis of Canceled Checks and Deposits and the Records

question 9

Essay

Blairsville Corp.prepares monthly bank reconciliations of its checking account balance.The bank statement for July 2017 indicated the following:
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$$\begin{array} { l r } \text { Balance, July } 31,2017 & \$ 63,400 \\\text { Service charge for July } & 160 \\\text { Interest earned during July } & 100 \\\text { NSF check from Black Corp. (deposited by Bl airswille) } & 1,150 \\\text { Note } ( \$ 3,000 ) \text { and interest } ( \$ 80 ) \text { collected for Blairsville from a } & 3,080 \\\text { customer } &\end{array}$$ An analysis of canceled checks and deposits and the records of Blairsville revealed the following items:
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$\begin{array}{lr}\text { Checking account bal ance per Blairsville's books } & \$ 58,770 \\\text { Outstanding checks as of July } 31 & 4,630 \\\text { Deposit in transit at July } 31 & 1,780 \\\text { Error in recording check \#205 issued by Blairsville } & 90\end{array}$
The correct amount of check #205 is $540,but it was recorded as a cash disbursement of $450.The check was issued to pay for merchandise purchases.The check appeared on the bank statement correctly.
A)Prepare a bank reconciliation schedule at July 31,2017,in proper form.
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B)What amount would Blairsville report on its balance sheet at July 31,2017,for cash?
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• A)Prepare a bank reconciliation schedule at July 31,2017,in proper form.
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• B)What amount would Blairsville report on its balance sheet at July 31,2017,for cash?
• ?

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