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the following information pertains to Sunland Company. 1. Cash balance per bank, July 31, $7,688. 2. July bank service charge not recorded by the depositor $47. 3. Cash balance per books, July 31, $7,724. 4. Deposits in transit, July 31, $3,060. 5. $2,376 collected for Sunland Company in July by the bank through electronic funds transfer. The collection has not been recorded by Sunland Company. 6. Outstanding checks, July 31, $695. (a) Prepare a bank reconciliation at July 31, 2017. (List items that increase balance as per bank & books first.) SUNLAND COMPANY Bank Reconciliation $ : : $ $ : : $

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Explanation:

Bank Reconciliation: The bank reconciliation deals with the bank statement balance and the cash statement balance. The motive is to compare these two statements so that the organization can run in a smooth manner.  

There are various transactions due to which the bank statement balance and the cash statement balance do not match. To match these statements, we adjust the transactions accordingly.  

The preparation of the bank reconciliation statement on July 31, 2017, for Sun-land company is presented in the spreadsheet. Kindly find the attachment below:  

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