PROBLEM 7-4 Green Valley Bank sent Comstock Industries their end of month b

PROBLEM 7-4

Green Valley Bank sent Comstock Industries their end of month bank statement for July. The end of month balance by the bank is $11237.00. The statement
shows that a deposit for $4250 is in transit at the end of the statement period. The statement also revealed that checks for $87.00 $105.00 and $95.00 are outstanding. Green Valley collected a 90 day 12% interest $4000.00 note
receivable charging $20 for the service. No interest has been accrued on the note. The bank charges a monthly account fee of $35.00. The end of month balance per company books is $11135.00.

Calculate the adjusted bank balance and complete the journal entries for the reconciliation.

Adjusted bank balance = $