The following information pertains to Lance Company.
1. Cash balance per bank, July 31, $7,328.
2. July bank service charge not recorded by the depositor $38.
3. Cash balance per books, July 31, $7,364.
4. Deposits in transit, July 31, $2,700.
5. $2,016 collected for Lance Company in July by the bank through electronic funds transfer. The collection has not been recorded by Lance Company.
6. Outstanding checks, July 31, $686.
The following information pertains to Lance Compan

The following information pertains to Lance Compan
1- Prepare a bank reconciliation at July 31, 2017
2- Journalize the adjusting entries at July 31 on the books of Lance Company

Explanation:

1.Cash balance per bank, July 31, $7,328.

2.July bank service charge not recorded by the depositor $38.

3.Cash balance per books, July 31, $7,364.

4.Deposits in transit, July 31, $2,700.

5.$2,016 collected for Lance Company in July by the bank through electronic funds transfer. The collection has not been recorded by Lance Company.

6.Outstanding checks, July 31, $686.

The following information pertains to Lance Compan

The following information pertains to Lance Compan  

1- Prepare a bank reconciliation at July 31, 2017

ADJUSTMENT OF CASH BOOK

Balance as per cash book7,364

Receipt by funds transfer2,016

Bank Charges(38)

Adjusted Cashbook Balance   9,342

BANK RECONCILIATION STATEMENT

Balance as per Adjusted Cashbook...9,342

Add: Unpresented Checks686

Less: Uncredited Deposits(2,700)

Balance as per bank statement7,328

2- Journalize the adjusting entries at July 31 on the books of Lance Company

Dr. Cash2,016

Cr. Bank2,016

Being Cash Receipt by funds transfer not captured in Cash book

Dr. Bank Charges38

Cr. Cash38

Being Bank Charges for the month of July.

it's obviously d. it could be c though.