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7. Prepare the journal entry to reconcile the bank statement below: Bank Statement Balance at (date) $6,988 Book Balance at (date) $6,626 Add: Add:

7. Prepare the journal entry to reconcile the bank statement below: Bank Statement Balance at (date) $6,988 Book Balance at (date) $6,626 Add: Add: Deposits in transit Bank error 1,600 75 Check #2456 posting error 90 Less: Less: Outstanding checks Adjusted bank balance $6,641 Adjusted book balance 2,022 Bank service charge 75 $6,641

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