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6. Franklin Inc. properly prepared a bank reconciliation for its business account at First Citizens Bank. The only reconciling items appearing in the reconciliation are
6. Franklin Inc. properly prepared a bank reconciliation for its business account at First Citizens Bank. The only reconciling items appearing in the reconciliation are the following:- . . Outstanding checks $475+ Deposit in transit $310- NSF check $125- 0 If the accountant for Franklin Inc. makes no adjusting journal entries based on this reconciliation, the balance of the cash account in the general ledger will be:- a. Correctly stated- b. Understated by $7850 c. Understated by $310- d. Overstated by $125- e. Overstated by $435e
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