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20. Bank reconciliation. Set up account 1080 for account reconciliation. Use the following linked accounts. Create new accounts if necessary. Income: Interest 4280 Revenue from
20. Bank reconciliation. Set up account 1080 for account reconciliation. Use the following linked accounts. Create new accounts if necessary. Income: Interest 4280 Revenue from Interest Expense1: Bank Charges 5010 Bank & Credit Card Fees Expense2: NSF fee 5010 Bank & Credit Card Fees Adjustment: 5005 Reconciliation Adjustments Reconcile the account using April 1 as statement start date and April 15 as the statement end date and the reconciliation date. There are two outstanding prior transactions Source Description Date Amount 13 Deposit slip Mar 25 Deposit $4 600 500 Kennelworth Pound Mar 30 Payment $2 700 (Hint: after adding the first outstanding transaction, click Insert Outstanding again to access a new transaction line.) Use the following bank statement details to complete the reconciliation. withdrawals deposits balance Mar. 15 Balance forward 22 389.00 Mar. 25 Deposit 4 600.00 Mar. 30 Cheque 500 2 700.00 Apr. 1 Interest on account 22.00 Apr. 1 Service fee 15.00 Apr. 4 Cheque 501 1 582.00 Apr. 4 Cheque 502 3 435.00 Apr. 8 Deposit 14 2 896.09 Apr. 8 Payroll transfer Ref #34 625.93 Apr. 15 Deposit 15 5 486.43 Apr. 15 Credit memo 5 000.00 Apr. 15 Transfer from 02333-88899 5 000.00 Apr. 15 Payroll transfer Ref #35 427.05 Apr. 15 Payroll transfer Ref #36 1781.92 Apr. 15 Closing Balance 34 826.62
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