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3. Entity A is preparing its February 28, 20x1 bank reconciliation statement. The following information was determined: Cash balance per accounting books, Feb. 28, 20x1,
3. Entity A is preparing its February 28, 20x1 bank reconciliation statement. The following information was determined: Cash balance per accounting books, Feb. 28, 20x1, P260,000 Cash balance per bank statement, Feb. 28, 20x1, P205,000 Dank . F,313 ,200 -565 860 62 418 -100 Additional information: a. A customer deposited P30,000 to Entity A's bank account as payment for an account receivable. This is not yet recorded in the books of accounts. b. A P102,500 check deposited by Entity A during the month is not yet credited to Entity A's account. A check drawn in the amount of P22,500 is not yet presented to the bank for payment. d. The bank returned a check deposit amounting to P5,000 because of insufficiency in the funds of the drawer. The check was received from a customer as payment for accounts receivable. C. usly ted ted Requirements: C. Prepare the bank reconciliation. d. Prepare the adjusting (reconciling) entries
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