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1) Prepare a Bank Reconciliation for ABC for the month ending January 31, 20XX. Use the information provided on the Book Balance and Bank Statement
1) Prepare a Bank Reconciliation for ABC for the month ending January 31, 20XX. Use the information provided on the Book Balance and Bank Statement ABC Co. Bank Reconciliation Flagstaff National Bank, January 31, 20XX Balance per Bank Statement (end of period) Add: 22,190 Deduct: Correct Cash Balance Balance per Book (end of period) Add: Deduct: 20,862 * Bank statement provided by Flagstaff National Bank shows a balance of $22,190 as of January 31, 20XX Deductions during the month: Check #1001 Check #1002 Check #1004 Check #1005 250 1400 311 * 100 Check #2021 175 ** Bank service charge 18 Additions during the month: Deposit on 1/5/20XX 500 Deposit o 1/25/20XX 800 Interest from Bonds 600 Other information: NSF check returned 220 *After verification you found out you incorrectly recorded the $311 payment as $131 on your book ** Confirmed that this out of order check is our company's check ABC's book shows a cash balance at Flagstaff National Bank on January 31, 20XX of $20,862 List of checks written during the month (good internal control requires writing checks ordered by the check numbers) 1001 250 1002 1400 1003 150 1004 131 1005 100 1006 4820 1007 31 List of deposit made during the month 1 500 2 800 3 220 4 3680
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