On August 1, 2019, the accountant for Western Imports downloaded the company's July 31, 2019. Bank statement from the bank?s Website. The balance shown on the bank statement was $28,750. The July 31, 2019, balance in the Cash account in the general ledger was $14,183.Jenny Irvine, the accountant for Western Imports, noted the following differences between the bank's records and the company's Cash account in the general ledger:(a) An electronic funds transfer for $14,300 from Foncier Ricard, a customer located in France, was received by the bank on July 31.(b) Check 1422 was correctly written and recorded for $1,200. The bank mistakenly paid the check for $1,240.(c) The accounting records indicate that Check 1425 was issued for $69 to make a purchase of supplies. However, the examination of the check online showed that the actual amount of the check was for $99.(d) A deposit of $790 made after banking hours on July 31 did not appear on the July 31 bank statement.(e) The following checks were outstanding: Check 1429 for $1,248, and Check 1430 for $140.(f) Automatic debit of $261 on July 31 from Central Common for telephone service appeared on the bank statement but had not been recorded in the company's accounting records.(1) Prepare a bank reconciliation for the firm as of July 31.(2) Record general journal entries for the items on the bank reconciliation that must be journalized.

engine assembler, survey reasearcher, auditor

answer; private store;

of the three mortgage options that demarco and tanya have to choose from, the balloon payment mortgage would be their best option, over adjustable payment and fixed payment plans.ultimately, the balloon payment plan would save demarco and tanya overall, in interest, would cost less monthly, and they would only have to make these payments for 8 years, opposing to 30 years for adjustable or fixed payment plans. 

overall, demarco and tanya would save $80,811 if they chose balloon payments over fixed payments, and would save $116,711 if they choose balloon payments over adjustable payments. benefits with choosing fixed payments over adjustable payments is that, in the end, the payments will still be $836.30 a month, while with adjustable payments, the initial monthly payments will be $763.38 to $1082.70 a month, ultimately leading to a more costly purchase. benefits with choosing fixed payments over balloon payments are not present. benefits in choosing adjustable payments over is that it has a lower interest rate, and starts with lower monthly payments initially. benefits in choosing adjustable payments over balloon payments include a lower interest rate, and lower initial monthly payments. benefits in choosing balloon payments over fixed payments include lower interest rates, lower overall price, lower monthly payments, takes less time to pay off, and does not require a downpayment. benefits in choosing balloon payments over adjustable payments include, lower monthly payments (when averaged), takes less time to pay off, and lower overall price.

hence, option c, balloon payments, is the best option for demarco and tanya to make this purchase, for it will save them a minimum of $80811, and a maximum of $116,711.