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(12)Clayborn Company' bank reconciliation as of May 31 is shown below. Bank balance$15,800 Book balance$17,025 + Deposit in transit5,200 Bank service fees-25 - Outstanding checks-4,600
(12)Clayborn Company' bank reconciliation as of May 31 is shown below.
Bank balance$15,800 Book balance$17,025
+ Deposit in transit5,200 Bank service fees-25
- Outstanding checks-4,600 NSF returned-600
Adjusted bank balance$16,400 Adjusted book balance$16,400
One of the adjusting journal entries that Clayborn must record as a result of the bank reconciliation includes:
- A. A credit to Cash of $4,600
- B. A debit to Cash of $5,200
- C. A debit to Cash of $625
- D. A credit to Cash of $600
- E. A debit to cash of $25
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