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Question description

Bank reconciliation; Prepare a bank reconciliation as of August 31 from the following information:

A. The August 31 balance shown on the bank statement is $4,905.

B.  There is a deposit in transit of $630 at August 31.

C.  Outstanding checks at August 31 totaled $945.

D.  Interest credited to the account during August but not recorded on the company's books amounted to $54.

E.  A bank charge of $28 for checks was made to the account during August.  Although the company was expecting a charge, its amount was not known until the bank statement arrived.

F.  In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of accounts payable of $759 had been recorded as a disbursement of $579.

G.  The August 31 blance in the general ledger Cash account, before reconciliation, is $4,744.

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(Top Tutor) Daniel C.
School: University of Virginia
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