(Solution) - The following information pertains to Worthy Video Company 1 C -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

Paper Format: APA

Pages: 5 Words: 1375

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The following information pertains to Worthy Video Company.
1. Cash balance per bank, July 31, $7,293.
2. July bank service charge not recorded by the depositor $28.
3. Cash balance per books, July 31, $7,384.
4. Deposits in transit, July 31, $1,500.
5. Bank collected $800 note for Worthy in July, plus interest $36, less fee $20. The collection has not been recorded by Worthy, and no interest has been accrued.
6. Outstanding checks, July 31, $621.

Instructions
(a) Prepare a bank reconciliation at July 31.
(b) Journalize the adjusting entries at July 31 on the books of Worthy Video Company.