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2. Nicole has asked you to prepare a bank reconciliation for NGS. According to her records, NGS's cash balance is $7,100 at December 31, but
2. Nicole has asked you to prepare a bank reconciliation for NGS. According to her records, NGS's cash balance is $7,100 at December 31, but the bank reports a balance of $6,600. a. The bank deducted $360 for an NSF cheque from a customer that was deposited on December 22. b. NGS has written cheques totalling $4,600 that have not yet cleared the bank. c. The bank added $10 cash to the account for interest earned in December d. NGS made a $4,560 deposit on December 31, which will be recorded by the bank in January e. The bank deducted $10 for service charges. f. NGS wrote a cheque to a supplier on account for $200 but mistakenly recorded it as $20. NICOLE'S GETAWAY SPA Bank Reconciliation At December 31 Bank statement Company's books Ending balance per bank statement Ending balance per cash account Additions: Additions: Deductions: Deductions: Up-to-date cash balance Up-to-date cash balance
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