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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: Deposits

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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: Deposits in transit 1,600 Check #2456 posting error 90 Bank error 75 Less: Less: Outstanding checks 2,022 Bank service charge 75 Adjusted bank balance $6,641 Adjusted book balance $6,641

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