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26 Nov 2019
The bank statement for Allen Co. indicates a balance of $8,000.00 on June 30, 2005. After the journals for June had been posted, the cash account had a balance of $3,675.00. Prepare a bank reconciliation on the basis of the following reconciling items:
(a) Cash sales of $342 had been erroneously recorded in the cash receipts journal as $324.
(b) Deposits in transit not recorded by bank, $500.00
(c) Bank debit memorandum for service charges, $25.00
(d) Bank credit memorandum for note collected by bank, $2850, including $50 interest
(e) Bank debit memorandum for $218.00 NSF (not sufficient funds) check from alice Bell, a customer
(f) Checks outstanding, $2,200.00
The bank statement for Allen Co. indicates a balance of $8,000.00 on June 30, 2005. After the journals for June had been posted, the cash account had a balance of $3,675.00. Prepare a bank reconciliation on the basis of the following reconciling items:
(a) Cash sales of $342 had been erroneously recorded in the cash receipts journal as $324.
(b) Deposits in transit not recorded by bank, $500.00
(c) Bank debit memorandum for service charges, $25.00
(d) Bank credit memorandum for note collected by bank, $2850, including $50 interest
(e) Bank debit memorandum for $218.00 NSF (not sufficient funds) check from alice Bell, a customer
(f) Checks outstanding, $2,200.00
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